AGH Wealth Advisors LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

by · The Markets Daily

AGH Wealth Advisors LLC reduced its position in RTX Co. (NYSE:RTX – Free Report) by 12.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,839 shares of the company’s stock after selling 667 shares during the period. AGH Wealth Advisors LLC’s holdings in RTX were worth $641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC bought a new stake in RTX in the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC bought a new position in shares of RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter worth $39,000. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $138.99 on Friday. The stock has a 50-day moving average price of $129.50 and a 200 day moving average price of $125.61. The stock has a market capitalization of $185.68 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a 12-month low of $99.07 and a 12-month high of $139.50. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Royal Bank of Canada reduced their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, RTX has a consensus rating of “Buy” and a consensus target price of $159.82.

Check Out Our Latest Stock Analysis on RTX

RTX Company Profile

(Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.

See Also

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