Atria Wealth Solutions Inc. Cuts Stake in RTX Co. (NYSE:RTX)

Atria Wealth Solutions Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 7.6% in the second quarter, Holdings Channel reports. The fund owned 105,753 shares of the company’s stock after selling 8,668 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in RTX were worth $10,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors raised its stake in shares of RTX by 23.7% during 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 purchasing an additional 17,351,313 shares during the period. Capital International Investors lifted its position in RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Norges Bank purchased a new stake 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% during 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 purchasing an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in RTX by 129.9% during the fourth 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. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by insiders.

RTX Stock Down 0.6 %

RTX traded down $0.69 during trading on Wednesday, hitting $117.27. 3,050,869 shares of the company’s stock traded hands, compared to its average volume of 7,260,417. The stock has a market capitalization of $155.90 billion, a price-to-earnings ratio of 45.99, a PEG ratio of 2.08 and a beta of 0.82. The company’s 50 day simple moving average is $108.04 and its two-hundred day simple moving average is $101.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $118.99. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analyst Ratings Changes

RTX has been the topic of a number of analyst reports. UBS Group lifted their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Two investment 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. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus price target of $153.47.

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.