MBA Advisors LLC Trims Stock Holdings in RTX Corporation (NYSE:RTX)

MBA Advisors LLC lessened its position in shares of RTX Corporation (NYSE:RTX) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,403 shares of the company’s stock after selling 322 shares during the quarter. MBA Advisors LLC’s holdings in RTX were worth $583,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RTX. Brighton Jones LLC lifted its position in RTX by 24.3% during 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 raised its stake in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after buying an additional 159 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of RTX by 47.4% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,922 shares of the company’s stock valued at $338,000 after buying an additional 939 shares during the period. Assetmark Inc. boosted its stake in shares of RTX by 19.3% in the fourth quarter. Assetmark Inc. now owns 171,103 shares of the company’s stock worth $19,800,000 after buying an additional 27,728 shares during the last quarter. Finally, SPC Financial Inc. acquired a new stake in RTX during the fourth quarter worth about $230,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the 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 in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’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 value of $2,328,805.64. Following the transaction, the executive vice president 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.

Analysts Set New Price Targets

RTX has been the subject of a number of analyst reports. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a report on Friday, April 25th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Cowen reissued a “buy” rating on shares of RTX in a report on Friday, May 23rd. Royal Bank Of Canada dropped their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $161.12.

RTX Trading Up 0.9%

Shares of RTX stock opened at $145.80 on Friday. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26. The firm’s 50-day moving average price is $136.83 and its 200 day moving average price is $129.07. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $194.78 billion, a PE ratio of 42.76, a P/E/G ratio of 2.61 and a beta of 0.64.

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

RTX Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.87%. RTX’s dividend payout ratio (DPR) is presently 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.