Sonora Investment Management Group LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Sonora Investment Management Group LLC lowered its holdings in RTX Co. (NYSE:RTX) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,285 shares of the company’s stock after selling 2,235 shares during the period. Sonora Investment Management Group LLC’s holdings in RTX were worth $13,019,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RTX. Norges Bank purchased a new position in shares of RTX during the 4th quarter valued at $1,745,644,000. GAMMA Investing LLC raised its stake in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi boosted its position in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. Finally, Capital Wealth Planning LLC purchased a new position in shares of RTX in the fourth quarter worth about $216,340,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.3%

NYSE RTX opened at $140.94 on Tuesday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $141.33. The stock has a market capitalization of $188.29 billion, a PE ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s 50-day moving average is $129.78 and its 200 day moving average is $125.98.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is currently 79.77%.

Analysts Set New Price Targets

Several research firms recently commented on RTX. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research note on Friday, April 25th. Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was 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 of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

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.