Woodley Farra Manion Portfolio Management Inc. Sells 5,676 Shares of RTX Corporation (NYSE:RTX)

Woodley Farra Manion Portfolio Management Inc. cut its stake in RTX Corporation (NYSE:RTX) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,068 shares of the company’s stock after selling 5,676 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in RTX were worth $8,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RTX. Geode Capital Management LLC raised its stake in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after buying an additional 1,000,722 shares in the last quarter. Northern Trust Corp increased its stake in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock valued at $1,494,257,000 after acquiring an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. raised its position in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Invesco Ltd. lifted its stake in RTX by 17.6% during the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in RTX by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,647,638 shares of the company’s stock valued at $884,958,000 after purchasing an additional 203,173 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RTX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Barclays increased their price target on RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, June 23rd. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, UBS Group raised their target price on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average price target of $157.13.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company’s stock, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company’s 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 directly owned 9,546 shares in the company, valued at approximately $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. Insiders sold 31,234 shares of company stock worth $4,439,755 in the last three months. 0.15% of the stock is owned by corporate insiders.

RTX Trading Up 0.6%

NYSE:RTX opened at $156.95 on Wednesday. The business’s 50-day simple moving average is $144.25 and its 200-day simple moving average is $133.50. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market capitalization of $210.08 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 earnings per share. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX’s payout ratio is currently 59.78%.

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.