Parsons Capital Management Inc. RI Trims Holdings in RTX Co. (NYSE:RTX)

Parsons Capital Management Inc. RI trimmed its position in RTX Co. (NYSE:RTX) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,520 shares of the company’s stock after selling 562 shares during the period. RTX comprises about 0.9% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 23rd largest position. Parsons Capital Management Inc. RI’s holdings in RTX were worth $16,096,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its stake in shares of RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after acquiring an additional 900 shares during the last quarter. Brighton Jones LLC increased its stake in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after acquiring an additional 159 shares during the last quarter. Empowered Funds LLC increased its stake in shares of RTX by 4.9% during the 4th quarter. Empowered Funds LLC now owns 84,372 shares of the company’s stock valued at $9,764,000 after acquiring an additional 3,966 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in shares of RTX by 2.7% during the 4th quarter. Stephens Inc. AR now owns 102,133 shares of the company’s stock valued at $11,819,000 after acquiring an additional 2,687 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. 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 note on Friday, April 25th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $159.82.

RTX Stock Performance

Shares of RTX opened at $140.94 on Tuesday. The business’s fifty day moving average price is $129.78 and its 200 day moving average price is $125.98. RTX Co. has a 12-month low of $99.07 and a 12-month high of $141.33. The stock has a market capitalization of $188.29 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. 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 (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

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.