Janney Montgomery Scott LLC Has $116.45 Million Stake in RTX Co. (NYSE:RTX)

Janney Montgomery Scott LLC decreased its holdings in RTX Co. (NYSE:RTX) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 879,105 shares of the company’s stock after selling 24,511 shares during the period. Janney Montgomery Scott LLC’s holdings in RTX were worth $116,446,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RTX. Vanguard Group Inc. grew its stake in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after buying an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RTX in the 4th quarter valued at approximately $1,745,644,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 3.2%

Shares of RTX stock opened at $145.47 on Monday. RTX Co. has a 12 month low of $99.07 and a 12 month high of $149.10. The firm has a market cap of $194.34 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The stock has a 50 day moving average of $131.41 and a 200-day moving average of $126.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX’s payout ratio is 79.77%.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Susquehanna lowered their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Royal Bank of Canada decreased 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. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $159.82.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s 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 owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.