Catalina Capital Group LLC Sells 4,137 Shares of RTX Corporation (NYSE:RTX)

Catalina Capital Group LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 66.8% in the 1st quarter, Holdings Channel reports. The firm owned 2,060 shares of the company’s stock after selling 4,137 shares during the period. Catalina Capital Group LLC’s holdings in RTX were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of RTX during the fourth quarter worth about $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $145.81 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market cap of $194.80 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. The business has a 50 day moving average price of $132.69 and a 200-day moving average price of $127.04. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Equities research analysts predict that RTX Corporation 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 issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Citigroup cut their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $159.82.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 approximately $1,217,496.84. This trade 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 corporate insiders.

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.