Cerro Pacific Wealth Advisors LLC Sells 221 Shares of RTX Co. (NYSE:RTX)

Cerro Pacific Wealth Advisors LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 4.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,545 shares of the company’s stock after selling 221 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in RTX were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RTX. 1620 Investment Advisors Inc. boosted its holdings in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after buying an additional 79 shares during the last quarter. Fusion Capital LLC boosted its holdings in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after buying an additional 80 shares during the last quarter. McDonough Capital Management Inc boosted its holdings in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. boosted its holdings in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after buying an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC boosted its holdings in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Up 1.2%

RTX stock opened at $136.43 on Friday. The stock has a market cap of $182.26 billion, a P/E ratio of 38.43, a PEG ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82. The firm’s 50 day moving average price is $129.09 and its 200-day moving average price is $125.12.

RTX (NYSE:RTX) last announced 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. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Citigroup lowered their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. UBS Group lifted their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RTX has a consensus rating of “Buy” and an average target price of $159.82.

About RTX

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.