Facet Wealth Inc. Cuts Holdings in RTX Corporation (NYSE:RTX)

Facet Wealth Inc. lowered its stake in shares of RTX Corporation (NYSE:RTX) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,676 shares of the company’s stock after selling 186 shares during the quarter. Facet Wealth Inc.’s holdings in RTX were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Guardian Wealth Advisors LLC NC increased its position in shares of RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock valued at $576,000 after purchasing an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its stake in shares of RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company’s stock worth $505,000 after acquiring an additional 82 shares in the last quarter. Weatherly Asset Management L. P. lifted its holdings in shares of RTX by 0.4% in the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company’s stock worth $2,767,000 after acquiring an additional 82 shares during the last quarter. CLG LLC grew its holdings in shares of RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company’s stock valued at $488,000 after purchasing an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC grew its holdings in shares of RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company’s stock valued at $302,000 after purchasing an additional 84 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

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 stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company’s 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 completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,530 shares of company stock valued at $3,080,191. Corporate insiders own 0.15% of the company’s stock.

RTX Stock Up 1.1%

Shares of RTX stock opened at $156.86 on Monday. 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 $112.27 and a 12-month high of $157.33. The company has a market cap of $209.96 billion, a P/E ratio of 34.47, a PEG ratio of 2.89 and a beta of 0.64. The company’s fifty day simple moving average is $143.48 and its two-hundred day simple moving average is $133.04.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 dividend yield of 1.73%. RTX’s dividend payout ratio (DPR) is 59.78%.

Analysts Set New Price Targets

Several analysts have weighed in on RTX shares. Jefferies Financial Group reissued a “hold” rating on shares of RTX in a research note on Monday, July 21st. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Finally, Citigroup lifted their price target on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.69.

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.