Live Oak Private Wealth LLC Lowers Position in RTX Corporation (NYSE:RTX)

Live Oak Private Wealth LLC cut its stake in RTX Corporation (NYSE:RTX) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,215 shares of the company’s stock after selling 4,462 shares during the period. RTX accounts for approximately 1.5% of Live Oak Private Wealth LLC’s portfolio, making the stock its 21st largest position. Live Oak Private Wealth LLC’s holdings in RTX were worth $9,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its holdings 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 during the last quarter. Greenline Partners LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Up 0.6%

NYSE:RTX opened at $146.75 on Monday. 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 12 month low of $99.07 and a 12 month high of $149.66. The company has a market cap of $196.05 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The company has a 50 day simple moving average of $133.43 and a two-hundred day simple moving average of $127.54.

RTX (NYSE:RTX) last posted 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 during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm 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 represents a $2.72 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is currently 79.77%.

Insider Transactions at RTX

In other 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 transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RTX shares. Wall Street Zen lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday. Susquehanna lowered their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Royal Bank Of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $159.82.

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.