Hohimer Wealth Management LLC Sells 29,653 Shares of RTX Corporation (NYSE:RTX)

by · The Markets Daily

Hohimer Wealth Management LLC trimmed its position in shares of RTX Corporation (NYSE:RTX – Free Report) by 82.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,384 shares of the company’s stock after selling 29,653 shares during the period. Hohimer Wealth Management LLC’s holdings in RTX were worth $846,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC bought a new position in RTX during the 1st quarter valued at about $26,000. 10Elms LLP purchased a new stake in RTX in the 4th quarter valued at about $29,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% in 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 period. Greenline Partners LLC purchased a new stake in RTX in the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX in the 4th quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. UBS Group boosted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Susquehanna lowered their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Finally, DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.12.

View Our Latest Research Report on RTX

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Up 0.3%

NYSE:RTX opened at $146.80 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $101.52 and a 52 week high of $149.26. The stock has a market capitalization of $196.12 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.73 and a beta of 0.64. The firm has a 50 day moving average of $139.16 and a 200 day moving average of $130.49.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. RTX’s payout ratio is 79.77%.

RTX 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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