Cranbrook Wealth Management LLC Decreases Holdings in RTX Co. (NYSE:RTX)

Cranbrook Wealth Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 10.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,570 shares of the company’s stock after selling 663 shares during the period. Cranbrook Wealth Management LLC’s holdings in RTX were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. 10Elms LLP purchased a new stake in shares of RTX in the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX during the 4th quarter valued at approximately $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

RTX opened at $139.21 on Friday. The stock has a market cap of $185.98 billion, a P/E ratio of 39.21, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $129.63 and its 200 day simple moving average is $125.75. RTX Co. has a 1-year low of $99.07 and a 1-year high of $140.65.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. RTX’s dividend payout ratio (DPR) is 79.77%.

Analyst Ratings Changes

RTX has been the subject of several analyst reports. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Susquehanna reduced their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, UBS Group upped their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of “Buy” and a consensus price target of $159.82.

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.