Perigon Wealth Management LLC Sells 6,777 Shares of RTX Corporation (NYSE:RTX)

Perigon Wealth Management LLC lessened its stake in shares of RTX Corporation (NYSE:RTX) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,500 shares of the company’s stock after selling 6,777 shares during the period. Perigon Wealth Management LLC’s holdings in RTX were worth $8,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP bought a new position in RTX during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC bought a new position in RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management increased its position 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 in the last quarter. Greenline Partners LLC bought a new position in RTX during the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the 4th quarter valued at approximately $39,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was 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 corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Susquehanna reduced their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Wells Fargo & Company lifted their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Four research 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 company. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $161.12.

RTX Stock Performance

RTX stock opened at $141.29 on Thursday. The stock’s fifty day moving average price is $134.28 and its 200-day moving average price is $127.93. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market cap of $188.76 billion, a P/E ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

RTX Profile

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.