RTX Corporation (NYSE:RTX) Stake Trimmed by GR Financial Group LLC

by · The Cerbat Gem

GR Financial Group LLC cut its stake in shares of RTX Corporation (NYSE:RTX – Free Report) by 35.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,984 shares of the company’s stock after selling 4,404 shares during the quarter. RTX makes up approximately 0.2% of GR Financial Group LLC’s portfolio, making the stock its 9th biggest position. GR Financial Group LLC’s holdings in RTX were worth $1,058,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RTX. LaFleur & Godfrey LLC raised its holdings in shares of RTX by 0.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after buying an additional 900 shares during the last quarter. Brighton Jones LLC lifted its position in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC increased its position in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after purchasing an additional 159 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of RTX by 24.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 4,851 shares of the company’s stock valued at $562,000 after buying an additional 956 shares during the period. Finally, LGT Group Foundation boosted its stake in shares of RTX by 31.9% in the fourth quarter. LGT Group Foundation now owns 4,240 shares of the company’s stock valued at $491,000 after buying an additional 1,025 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president owned 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company raised 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. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. The Goldman Sachs Group increased their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Finally, Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $161.12.

Get Our Latest Report on RTX

RTX Price Performance

NYSE:RTX opened at $144.29 on Wednesday. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. The firm has a market cap of $192.76 billion, a price-to-earnings ratio of 42.31, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. The company’s 50-day moving average is $135.87 and its two-hundred day moving average is $128.77. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX – Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

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.

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