Stiles Financial Services Inc Has $3.03 Million Stake in RTX Corporation (NYSE:RTX)

Stiles Financial Services Inc decreased its stake in shares of RTX Corporation (NYSE:RTX) by 10.3% during the first quarter, HoldingsChannel.com reports. The fund owned 22,872 shares of the company’s stock after selling 2,621 shares during the period. RTX makes up 1.2% of Stiles Financial Services Inc’s holdings, making the stock its 21st largest position. Stiles Financial Services Inc’s holdings in RTX were worth $3,030,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. 10Elms LLP acquired a new stake in RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new stake in RTX in the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new stake in RTX in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. 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. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Finally, UBS Group increased their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $159.82.

RTX Stock Performance

NYSE RTX opened at $146.75 on Monday. The firm has a market cap of $196.05 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 2.65 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.66. The company has a 50 day moving average of $133.43 and a 200-day moving average of $127.54.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The firm 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, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

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

Insiders Place Their Bets

In other RTX 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 transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the 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 in the company, 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. Insiders own 0.15% of the company’s stock.

RTX 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.