Elite Wealth Management Inc. Sells 1,000 Shares of RTX Corporation (NYSE:RTX)

Elite Wealth Management Inc. lessened its stake in shares of RTX Corporation (NYSE:RTX) by 37.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,677 shares of the company’s stock after selling 1,000 shares during the quarter. Elite Wealth Management Inc.’s holdings in RTX were worth $222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of RTX in the 4th quarter worth $1,745,644,000. GAMMA Investing LLC boosted its position in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Invesco Ltd. boosted its position in shares of RTX by 17.6% in the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada lowered their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. UBS Group raised their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Finally, Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Four equities 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 stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $161.12.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of RTX 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 sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $146.80 on Monday. The stock has a 50-day simple moving average of $139.16 and a two-hundred day simple moving average of $130.49. The firm has a market capitalization of $196.12 billion, a P/E ratio of 43.05, a PEG ratio of 2.73 and a beta of 0.64. RTX Corporation has a fifty-two week low of $101.52 and a fifty-two week high of $149.26. 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) last announced its quarterly 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. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.85%. RTX’s payout ratio is 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.