Crowley Wealth Management Inc. Decreases Stake in RTX Co. (NYSE:RTX)

Crowley Wealth Management Inc. cut its holdings in RTX Co. (NYSE:RTX) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,037 shares of the company’s stock after selling 118 shares during the period. RTX comprises about 1.1% of Crowley Wealth Management Inc.’s holdings, making the stock its 21st largest position. Crowley Wealth Management Inc.’s holdings in RTX were worth $1,197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 10Elms LLP acquired a new stake in shares of RTX during the fourth quarter valued at $29,000. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares in 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. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, 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.

RTX Stock Down 0.6%

Shares of RTX stock opened at $140.92 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $188.26 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $149.94. The business has a 50-day moving average price of $130.91 and a 200 day moving average price of $126.33.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate 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 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent analyst reports. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research note on Wednesday, April 23rd. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Buy” and a consensus price target of $159.82.

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.