Tealwood Asset Management Inc. Sells 115 Shares of RTX Co. (NYSE:RTX)

Tealwood Asset Management Inc. lowered its position in RTX Co. (NYSE:RTX) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 16,132 shares of the company’s stock after selling 115 shares during the quarter. Tealwood Asset Management Inc.’s holdings in RTX were worth $2,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. 10Elms LLP bought a new stake in RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX in the fourth quarter worth about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter worth about $39,000. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RTX shares. Royal Bank of Canada decreased their target price on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 23rd. Susquehanna decreased their price objective on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. UBS Group upped their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $159.82.

Insiders Place Their Bets

In other RTX 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 transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

RTX Trading Up 0.1%

Shares of NYSE RTX opened at $139.21 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 business’s 50 day moving average price is $129.63 and its 200-day moving average price is $125.75. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $140.65. The company has a market cap of $185.98 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio (DPR) 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.