Gradient Investments LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Gradient Investments LLC reduced its holdings in RTX Co. (NYSE:RTX) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,495 shares of the company’s stock after selling 8,026 shares during the period. Gradient Investments LLC’s holdings in RTX were worth $14,769,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 10Elms LLP purchased a new stake in shares of RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC purchased a new stake in RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new stake in RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX during the fourth quarter worth $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RTX. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada lowered 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. Susquehanna lowered their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of RTX in a report on Friday, May 23rd. Finally, Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $159.82.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated 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 owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

RTX Trading Up 1.2%

Shares of RTX opened at $136.43 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82. The firm has a 50-day moving average price of $129.09 and a 200 day moving average price of $125.17. The firm has a market capitalization of $182.26 billion, a P/E ratio of 38.43, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last announced its earnings results 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. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is 79.77%.

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.