Sunbelt Securities Inc. Sells 1,286 Shares of RTX Corporation (NYSE:RTX)

Sunbelt Securities Inc. trimmed its position in shares of RTX Corporation (NYSE:RTX) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,513 shares of the company’s stock after selling 1,286 shares during the period. Sunbelt Securities Inc.’s holdings in RTX were worth $1,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC boosted its stake in RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock worth $20,620,000 after buying an additional 900 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after acquiring an additional 3,332 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of RTX during the 4th quarter valued at about $180,000. Finally, Proficio Capital Partners LLC increased its stake in RTX by 19,052.5% in the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock valued at $120,724,000 after acquiring an additional 1,037,792 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 1.4%

Shares of NYSE:RTX opened at $144.64 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market cap of $193.23 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.58 and a beta of 0.63. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company’s 50-day moving average price is $134.87 and its two-hundred day moving average price is $128.29.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for 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%. As a group, research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.88%. RTX’s payout ratio is currently 79.77%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were 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 in the company, 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 is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the 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 directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade 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 insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RTX. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Royal Bank Of Canada cut their target price on RTX from $150.00 to $140.00 and set an “outperform” rating for the company 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 target on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.12.

RTX 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.