RTX Corporation (NYSE:RTX) Stake Cut by Beacon Capital Management LLC

Beacon Capital Management LLC decreased its holdings in RTX Corporation (NYSE:RTX) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,406 shares of the company’s stock after selling 204 shares during the period. Beacon Capital Management LLC’s holdings in RTX were worth $319,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. boosted its holdings in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC boosted its holdings in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc boosted its holdings in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. boosted its holdings in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC boosted its holdings in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after acquiring an additional 81 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

NYSE RTX opened at $148.50 on Wednesday. The firm has a market cap of $198.39 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 2.65 and a beta of 0.63. The company has a 50 day moving average of $132.34 and a 200-day moving average of $126.91. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.56.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RTX. Wells Fargo & Company upped their price target on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Susquehanna dropped their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target 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. UBS Group increased their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Three investment 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’s stock. According to data from MarketBeat, RTX has an average rating of “Buy” and an average target price of $159.82.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

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.