RTX Corporation (NYSE:RTX) Shares Sold by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC lowered its stake in RTX Corporation (NYSE:RTX) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 50,752 shares of the company’s stock after selling 3,423 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in RTX were worth $6,723,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RTX. MorganRosel Wealth Management LLC bought a new position in shares of RTX in the first quarter valued at approximately $26,000. 10Elms LLP acquired a new stake in RTX in the fourth quarter worth approximately $29,000. Greenline Partners LLC bought a new position in RTX during the 4th quarter valued at $34,000. Mpwm Advisory Solutions LLC acquired a new position in shares of RTX during the 4th quarter valued at $43,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of RTX in the 1st quarter worth $44,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock worth $7,126,389 in the last ninety days. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $155.25 on Friday. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The business’s 50-day moving average price is $149.25 and its two-hundred day moving average price is $136.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market capitalization of $207.81 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX’s dividend payout ratio is currently 59.78%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RTX. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a report on Monday, July 14th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.67.

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.