Flagship Harbor Advisors LLC Has $3.14 Million Position in RTX Corporation (NYSE:RTX)

Flagship Harbor Advisors LLC reduced its holdings in RTX Corporation (NYSE:RTX) by 3.0% during the 1st quarter, HoldingsChannel reports. The firm owned 23,721 shares of the company’s stock after selling 746 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in RTX were worth $3,142,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. National Pension Service increased its position in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares during the period. Dynamic Advisor Solutions LLC increased its position in RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock worth $4,591,000 after buying an additional 2,686 shares during the period. Deutsche Bank AG increased its position in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after buying an additional 936,953 shares during the period. Occudo Quantitative Strategies LP bought a new position in RTX in the 4th quarter worth approximately $3,356,000. Finally, Thoroughbred Financial Services LLC increased its position in RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after buying an additional 7,987 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RTX shares. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Cowen reaffirmed a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research report on Saturday. Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $159.82.

RTX Price Performance

RTX stock opened at $146.75 on Monday. 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 $196.05 billion, a P/E ratio of 43.04, a P/E/G ratio of 2.65 and a beta of 0.63. The business’s fifty day moving average is $133.43 and its two-hundred day moving average is $127.54. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.66.

RTX (NYSE:RTX) last issued its quarterly 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 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Equities research analysts forecast that RTX Corporation 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. Stockholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is 79.77%.

Insider Activity

In related news, 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 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 SEC, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $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 currently owned by 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.