C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Reduces Stock Holdings in RTX Corporation (NYSE:RTX)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its holdings in RTX Corporation (NYSE:RTX) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,788 shares of the company’s stock after selling 102 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in RTX were worth $370,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter valued at $26,000. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $43,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of RTX during the 1st quarter worth approximately $44,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,935 shares of company stock valued at $5,938,488 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of NYSE RTX opened at $154.84 on Tuesday. The firm has a 50-day simple moving average of $148.22 and a 200-day simple moving average of $135.73. The stock has a market capitalization of $207.25 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. On average, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX’s dividend payout ratio (DPR) is 59.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Bank of America raised their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 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 research note on Friday, April 25th. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research note on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Susquehanna raised their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.67.

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.