Sowell Financial Services LLC Sells 1,694 Shares of RTX Co. (NYSE:RTX)

Sowell Financial Services LLC lessened its stake in RTX Co. (NYSE:RTX) by 9.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,665 shares of the company’s stock after selling 1,694 shares during the quarter. Sowell Financial Services LLC’s holdings in RTX were worth $2,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC purchased a new stake in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter worth about $39,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $146.43 on Tuesday. 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 $149.04. The business’s fifty day simple moving average is $131.94 and its 200-day simple moving average is $126.76. The company has a market capitalization of $195.62 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last announced 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 business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction 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 that occurred 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 sale, the vice president now owns 9,546 shares in the company, 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. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. UBS Group boosted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.