Independent Solutions Wealth Management LLC Sells 529 Shares of RTX Corporation (NYSE:RTX)

Independent Solutions Wealth Management LLC decreased its stake in shares of RTX Corporation (NYSE:RTX) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,166 shares of the company’s stock after selling 529 shares during the period. Independent Solutions Wealth Management LLC’s holdings in RTX were worth $1,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 10Elms LLP bought a new position in RTX in the fourth quarter worth $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management increased its stake in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX during the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company’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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred 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 owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $141.85 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market capitalization of $189.51 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 2.64 and a beta of 0.63. The stock has a 50-day moving average of $134.03 and a 200 day moving average of $127.84. RTX Corporation has a one year low of $99.07 and a one year high of $149.26.

RTX (NYSE:RTX) last announced its quarterly 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 firm had revenue of $20.31 billion during 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%. On average, sell-side analysts forecast 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 paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.92%. RTX’s payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RTX. The Goldman Sachs Group raised their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup cut their price target on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Royal Bank Of Canada lowered their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.12.

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.