RTX Corporation (NYSE:RTX) Stake Reduced by CFO4Life Group LLC

by · The Markets Daily

CFO4Life Group LLC cut its holdings in RTX Corporation (NYSE:RTX – Free Report) by 7.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,142 shares of the company’s stock after selling 161 shares during the quarter. CFO4Life Group LLC’s holdings in RTX were worth $284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC raised its holdings 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 buying an additional 159 shares during the period. Proficio Capital Partners LLC raised its holdings in RTX by 65.5% during the 4th quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company’s stock worth $1,043,000 after buying an additional 3,568 shares during the period. PFG Advisors raised its holdings in RTX by 1.1% during the 4th quarter. PFG Advisors now owns 17,083 shares of the company’s stock worth $1,977,000 after buying an additional 179 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in RTX by 12.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 12,995 shares of the company’s stock worth $1,504,000 after buying an additional 1,453 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Up 0.2%

NYSE RTX opened at $146.47 on Friday. The stock has a market capitalization of $195.67 billion, a price-to-earnings ratio of 42.95, a PEG ratio of 2.64 and a beta of 0.64. RTX Corporation has a 52 week low of $100.22 and a 52 week high of $149.26. The stock’s 50 day moving average price is $138.83 and its two-hundred day moving average price is $130.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

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. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. RTX’s payout ratio is presently 79.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RTX. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and upped their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Citigroup dropped their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Finally, Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.12.

View Our Latest Stock Report on RTX

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $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 owned by corporate insiders.

About RTX

(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.

Further Reading

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