New Century Financial Group LLC Has $225,000 Stake in RTX Co. (NYSE:RTX)

New Century Financial Group LLC trimmed its stake in shares of RTX Co. (NYSE:RTX) by 83.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,695 shares of the company’s stock after selling 8,797 shares during the period. New Century Financial Group LLC’s holdings in RTX were worth $225,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RTX. 10Elms LLP acquired a new position in RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX in the fourth quarter worth $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC bought a new stake in shares of RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the fourth quarter worth $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In related news, 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Up 3.2%

Shares of RTX stock opened at $145.47 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm’s 50-day moving average is $131.41 and its 200-day moving average is $126.50. 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 Co. has a 52-week low of $99.07 and a 52-week high of $146.02.

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

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. 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 research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Buy” and an average target price of $159.82.

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.