Lakewood Asset Management LLC Sells 106 Shares of RTX Co. (NYSE:RTX)

Lakewood Asset Management LLC lessened its stake in RTX Co. (NYSE:RTX) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,523 shares of the company’s stock after selling 106 shares during the quarter. RTX comprises about 1.6% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. Lakewood Asset Management LLC’s holdings in RTX were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. RFG Advisory LLC increased its holdings in shares of RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after acquiring an additional 19,779 shares in the last quarter. TCW Group Inc. acquired a new position in shares of RTX during the fourth quarter worth about $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth about $672,000. Mather Group LLC. boosted its position in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after buying an additional 1,079 shares during the period. Finally, AllGen Financial Advisors Inc. boosted its position in shares of RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after buying an additional 3,657 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. Barclays upped their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group increased 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. Wells Fargo & Company reduced their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Hold” and an average price target of $153.47.

RTX Stock Performance

Shares of NYSE RTX traded up $0.22 during trading hours on Friday, reaching $117.95. 5,251,477 shares of the stock were exchanged, compared to its average volume of 7,306,247. The firm has a market capitalization of $156.82 billion, a price-to-earnings ratio of 46.25, a P/E/G ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.99. The stock’s fifty day simple moving average is $107.39 and its 200 day simple moving average is $101.26.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that RTX Co. will post 5.44 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders 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 dividend on an annualized basis and a yield of 2.14%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insiders Place Their Bets

In other news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 in the last 90 days. Company insiders own 0.13% of the company’s stock.

RTX 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.