Orion Portfolio Solutions LLC Sells 19,489 Shares of RTX Co. (NYSE:RTX)

Orion Portfolio Solutions LLC decreased its holdings in RTX Co. (NYSE:RTX) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,854 shares of the company’s stock after selling 19,489 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in RTX were worth $12,860,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bear Mountain Capital Inc. bought a new stake in RTX during the fourth quarter valued at $25,000. Planned Solutions Inc. bought a new stake in RTX during the fourth quarter valued at $30,000. Alaska Permanent Fund Corp bought a new stake in RTX during the first quarter valued at $42,000. Tennessee Valley Asset Management Partners bought a new stake in RTX during the fourth quarter valued at $38,000. Finally, Fairman Group LLC bought a new stake in RTX during the fourth quarter valued at $38,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.0 %

NYSE:RTX traded down $1.03 on Friday, hitting $102.81. The stock had a trading volume of 3,993,817 shares, compared to its average volume of 7,408,969. 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 stock has a market cap of $136.69 billion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The firm’s fifty day simple moving average is $104.22 and its two-hundred day simple moving average is $97.30.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. 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 business posted $1.22 EPS. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts predict that RTX Co. will post 5.4 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.45%. RTX’s payout ratio is currently 98.82%.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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 transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 in the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Citigroup upped 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. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Susquehanna increased their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.33.

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.