Sequoia Financial Advisors LLC Purchases 12,392 Shares of RTX Corporation (NYSE:RTX)

Sequoia Financial Advisors LLC increased its position in RTX Corporation (NYSE:RTX) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 545,447 shares of the company’s stock after buying an additional 12,392 shares during the period. Sequoia Financial Advisors LLC’s holdings in RTX were worth $72,250,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter valued at about $31,000. Picton Mahoney Asset Management grew 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 valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX during the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter valued at about $39,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $141.29 on Thursday. The firm has a market cap of $188.76 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. The firm’s 50 day simple moving average is $134.28 and its 200-day simple moving average is $127.93. RTX Corporation has a one year low of $99.07 and a one year high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, equities analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

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

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada lowered their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a report on Friday, April 25th. Finally, Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price 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.