RTX Corporation (NYSE:RTX) Shares Sold by Chapin Davis Inc.

Chapin Davis Inc. reduced its stake in RTX Corporation (NYSE:RTX) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,420 shares of the company’s stock after selling 698 shares during the quarter. Chapin Davis Inc.’s holdings in RTX were worth $1,645,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. LaFleur & Godfrey LLC grew its holdings in shares of RTX by 0.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after purchasing an additional 900 shares in the last quarter. Brighton Jones LLC grew its stake in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its position in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares in the last quarter. Sigma Planning Corp grew its position in shares of RTX by 1.0% during the fourth quarter. Sigma Planning Corp now owns 31,012 shares of the company’s stock worth $3,589,000 after buying an additional 294 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in RTX by 2.2% in the fourth quarter. Pinnacle Financial Partners Inc now owns 29,129 shares of the company’s stock worth $3,403,000 after acquiring an additional 633 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.6%

Shares of RTX stock opened at $146.75 on Monday. RTX Corporation has a one year low of $99.07 and a one year high of $149.66. The company has a market cap of $196.05 billion, a P/E ratio of 43.04, a PEG ratio of 2.65 and a beta of 0.63. 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 fifty day moving average of $133.43 and a two-hundred day moving average of $127.54.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.85%. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RTX. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Cowen reaffirmed a “buy” rating on shares of RTX in a research report on Friday, May 23rd. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Four 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.82.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

About RTX

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.