Salem Investment Counselors Inc. Sells 1,371 Shares of RTX Co. (NYSE:RTX)

Salem Investment Counselors Inc. lessened its position in RTX Co. (NYSE:RTX) by 0.6% in the first quarter, HoldingsChannel reports. The firm owned 220,952 shares of the company’s stock after selling 1,371 shares during the quarter. RTX accounts for approximately 1.0% of Salem Investment Counselors Inc.’s holdings, making the stock its 20th biggest holding. Salem Investment Counselors Inc.’s holdings in RTX were worth $29,267,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Everhart Financial Group Inc. boosted its holdings in shares of RTX by 13.9% during the 1st quarter. Everhart Financial Group Inc. now owns 10,118 shares of the company’s stock valued at $1,340,000 after buying an additional 1,232 shares in the last quarter. Smithbridge Asset Management Inc. DE purchased a new position in RTX during the 1st quarter valued at about $8,728,000. Osprey Private Wealth LLC boosted its stake in RTX by 34.6% during the first quarter. Osprey Private Wealth LLC now owns 18,215 shares of the company’s stock worth $2,413,000 after acquiring an additional 4,685 shares in the last quarter. Verity & Verity LLC grew its holdings in RTX by 0.3% in the first quarter. Verity & Verity LLC now owns 241,005 shares of the company’s stock worth $31,924,000 after purchasing an additional 772 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its stake in shares of RTX by 1.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 221,298 shares of the company’s stock valued at $29,313,000 after purchasing an additional 3,767 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE RTX opened at $140.92 on Friday. The stock has a market capitalization of $188.26 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a 1-year low of $99.07 and a 1-year high of $149.94. 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 fifty day moving average price is $130.91 and its 200-day moving average price is $126.33.

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

RTX Increases Dividend

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

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of RTX 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 transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RTX shares. Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. UBS Group upped their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, Royal Bank of Canada decreased their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Three 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. According to data from MarketBeat.com, RTX presently has a consensus rating of “Buy” and an average target price of $159.82.

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.