Financial Counselors Inc. Sells 6,184 Shares of RTX Corporation (NYSE:RTX)

Financial Counselors Inc. lessened its position in shares of RTX Corporation (NYSE:RTX) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 475,354 shares of the company’s stock after selling 6,184 shares during the period. RTX accounts for 1.0% of Financial Counselors Inc.’s investment portfolio, making the stock its 25th largest position. Financial Counselors Inc.’s holdings in RTX were worth $62,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Norges Bank bought a new position in RTX during the fourth quarter worth about $1,745,644,000. GAMMA Investing LLC lifted its stake in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after buying an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in 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 buying an additional 3,164,844 shares during the period. Invesco Ltd. grew its stake in RTX by 17.6% in the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock valued at $1,175,457,000 after buying an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.9%

Shares of RTX stock opened at $145.80 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1 year low of $99.42 and a 1 year high of $149.26. The firm has a market cap of $194.78 billion, a PE ratio of 42.76, a PEG ratio of 2.63 and a beta of 0.64. The company has a 50 day simple moving average of $137.24 and a two-hundred day simple moving average of $129.46.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX’s payout ratio is currently 79.77%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’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 transaction 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 disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Citigroup decreased their price target on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Susquehanna lowered their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.12.

RTX Company 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.