Destination Wealth Management Sells 752 Shares of RTX Co. (NYSE:RTX)

Destination Wealth Management decreased its holdings in RTX Co. (NYSE:RTX) by 24.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,300 shares of the company’s stock after selling 752 shares during the quarter. Destination Wealth Management’s holdings in RTX were worth $231,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after acquiring an additional 1,389,143 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of RTX during the 4th quarter worth approximately $239,000. Carret Asset Management LLC boosted its stake in shares of RTX by 2.0% in the 4th quarter. Carret Asset Management LLC now owns 19,743 shares of the company’s stock worth $1,661,000 after buying an additional 386 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of RTX by 8.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 113,264 shares of the company’s stock valued at $9,530,000 after acquiring an additional 8,816 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in RTX by 4.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,437 shares of the company’s stock worth $2,813,000 after acquiring an additional 1,402 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX traded up $0.50 on Friday, reaching $118.52. 3,427,510 shares of the company’s stock traded hands, compared to its average volume of 7,215,377. The stock has a market cap of $157.57 billion, a PE ratio of 46.48, 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 current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 12 month low of $68.56 and a 12 month high of $118.99. The stock has a 50-day simple moving average of $108.59 and a 200 day simple moving average of $102.24.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating 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 company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the company posted $1.29 EPS. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts predict that RTX Co. will post 5.44 earnings per share for the current year.

RTX Dividend Announcement

The company 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. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays lifted their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna boosted their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $153.47.

Insider Buying and Selling at RTX

In other news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently 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.