RTX Co. (NYSE:RTX) Stake Decreased by CapWealth Advisors LLC

CapWealth Advisors LLC reduced its stake in RTX Co. (NYSE:RTX) by 0.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 282,237 shares of the company’s stock after selling 1,136 shares during the quarter. RTX accounts for approximately 3.1% of CapWealth Advisors LLC’s portfolio, making the stock its 10th largest holding. CapWealth Advisors LLC’s holdings in RTX were worth $27,527,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors lifted its holdings in RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its holdings in RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the last quarter. Sanders Capital LLC lifted its holdings in RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares during the last quarter. Finally, Norges Bank purchased a new stake in RTX during the fourth quarter valued at about $690,154,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Robert W. Baird upped their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company upped their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.33.

Insider Buying and Selling at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 over the last ninety days. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded up $1.02 during trading on Tuesday, hitting $101.12. The company had a trading volume of 5,648,918 shares, compared to its average volume of 7,516,309. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock’s 50-day moving average is $104.26 and its two-hundred day moving average is $96.57. The stock has a market capitalization of $134.44 billion, a price-to-earnings ratio of 39.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

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.