Redwood Wealth Management Group LLC Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Redwood Wealth Management Group LLC trimmed its position in RTX Co. (NYSE:RTX) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,241 shares of the company’s stock after selling 361 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in RTX were worth $706,000 at the end of the most recent quarter.

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

RTX Trading Down 0.4 %

Shares of RTX stock traded down $0.44 on Friday, hitting $101.28. The stock had a trading volume of 6,003,137 shares, compared to its average volume of 6,723,965. The stock’s 50-day simple moving average is $104.24 and its two-hundred day simple moving average is $96.94. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The stock has a market cap of $134.65 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 1.80 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. 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 98.82%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna increased their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their price target on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.33.

Insider Buying and Selling

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

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.