First Foundation Advisors Has $1.01 Million Stock Holdings in RTX Co. (NYSE:RTX)

First Foundation Advisors lessened its holdings in shares of RTX Co. (NYSE:RTX) by 2.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,396 shares of the company’s stock after selling 248 shares during the period. First Foundation Advisors’ holdings in RTX were worth $1,014,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RTX. Capital Research Global Investors grew its holdings in shares of RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors grew its holdings in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the period. Norges Bank acquired a new position in shares of RTX in the 4th quarter valued at $690,154,000. Massachusetts Financial Services Co. MA grew its holdings in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after buying an additional 2,294,908 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were 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 directly owns 149,050 shares in the company, valued at $15,757,566. 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 in the last three months. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RTX shares. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Wells Fargo & Company upped their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Robert W. Baird upped their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup upped their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, RTX has a consensus rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

Shares of RTX stock traded down $1.03 on Friday, reaching $102.81. The stock had a trading volume of 7,229,794 shares, compared to its average volume of 6,931,716. 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 firm’s 50-day moving average is $104.15 and its two-hundred day moving average is $97.52. The firm has a market capitalization of $136.69 billion, a price-to-earnings ratio of 40.32, a P/E/G ratio of 1.83 and a beta of 0.82. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. On average, research analysts expect that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Announces Dividend

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