Hickory Asset Management Inc. Sells 141 Shares of RTX Co. (NYSE:RTX)

Hickory Asset Management Inc. cut its holdings in RTX Co. (NYSE:RTX) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,708 shares of the company’s stock after selling 141 shares during the period. Hickory Asset Management Inc.’s holdings in RTX were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RTX. Norges Bank bought a new position in shares of RTX during the fourth quarter valued at about $1,745,644,000. GAMMA Investing LLC raised its stake in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Amundi raised its stake in shares of RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new position in shares of RTX during the fourth quarter valued at about $216,340,000. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on RTX shares. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Citigroup reduced their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $159.82.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the 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 now owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Up 3.2%

NYSE:RTX opened at $145.47 on Friday. The company’s 50 day moving average price is $131.41 and its 200-day moving average price is $126.50. RTX Co. has a 52 week low of $99.07 and a 52 week high of $146.02. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $194.34 billion, a price-to-earnings ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX’s dividend payout ratio 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.