Good Life Advisors LLC Decreases Holdings in RTX Co. (NYSE:RTX)

Good Life Advisors LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,058 shares of the company’s stock after selling 96 shares during the quarter. Good Life Advisors LLC’s holdings in RTX were worth $802,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP bought a new position in RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC bought a new position in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC bought a new position in RTX during the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the 4th quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Royal Bank of Canada cut their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Citigroup dropped their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $159.82.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm’s 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 completion of the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s 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 of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Trading Up 0.5%

NYSE:RTX opened at $146.43 on Tuesday. RTX Co. has a 52 week low of $99.07 and a 52 week high of $149.04. The firm has a 50 day moving average of $131.94 and a 200 day moving average of $126.76. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $195.62 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.11 and a beta of 0.63.

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

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX’s dividend 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.