Dakota Wealth Management Reduces Holdings in RTX Corporation (NYSE:RTX)

Dakota Wealth Management decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 0.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 31,988 shares of the company’s stock after selling 301 shares during the period. Dakota Wealth Management’s holdings in RTX were worth $4,237,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RTX. Norges Bank purchased a new stake in shares of RTX during the fourth quarter worth about $1,745,644,000. GAMMA Investing LLC grew its stake in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of RTX by 43.1% during 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 acquiring an additional 3,164,844 shares during the last quarter. Invesco Ltd. grew its stake in shares of 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 acquiring an additional 1,522,251 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.8%

RTX stock opened at $149.47 on Tuesday. 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 12 month low of $101.52 and a 12 month high of $150.22. The stock’s 50 day simple moving average is $139.16 and its two-hundred day simple moving average is $130.49. The firm has a market cap of $199.68 billion, a PE ratio of 43.83, a P/E/G ratio of 2.73 and a beta of 0.64.

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

RTX Announces Dividend

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 paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.82%. RTX’s payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a “market perform” rating in a research report on Friday. Royal Bank Of Canada dropped their target price on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Five research 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.61.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s 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 directly owned 9,546 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.15% of the company’s stock.

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.