Forbes J M & Co. LLP Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Forbes J M & Co. LLP trimmed its stake in shares of RTX Co. (NYSE:RTX) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,795 shares of the company’s stock after selling 132 shares during the quarter. Forbes J M & Co. LLP’s holdings in RTX were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Salem Investment Counselors Inc. lifted its holdings in shares of RTX by 3.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 233,932 shares of the company’s stock valued at $22,815,000 after buying an additional 7,670 shares during the period. Douglas Lane & Associates LLC raised its stake in RTX by 59.6% during the first quarter. Douglas Lane & Associates LLC now owns 366,021 shares of the company’s stock valued at $35,698,000 after purchasing an additional 136,711 shares in the last quarter. City State Bank boosted its holdings in shares of RTX by 2.4% in the 1st quarter. City State Bank now owns 13,974 shares of the company’s stock worth $1,363,000 after purchasing an additional 330 shares during the period. &PARTNERS boosted its stake in RTX by 64.7% during the first quarter. &PARTNERS now owns 5,991 shares of the company’s stock worth $584,000 after buying an additional 2,353 shares during the period. Finally, Matthew Goff Investment Advisor LLC boosted its stake in shares of RTX by 8.2% during the 1st quarter. Matthew Goff Investment Advisor LLC now owns 61,304 shares of the company’s stock worth $5,979,000 after purchasing an additional 4,621 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

NYSE RTX traded up $0.54 during trading on Friday, reaching $105.61. 13,311,891 shares of the company traded hands, compared to its average volume of 4,735,286. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market cap of $140.41 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 1.84 and a beta of 0.83. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The stock’s 50 day moving average price is $104.38 and its two-hundred day moving average price is $94.89.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. As a group, analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.39%. RTX’s dividend payout ratio is presently 98.82%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RTX shares. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their target price on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays increased their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Finally, TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Activity at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 over the last 90 days. Insiders own 0.13% 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.