Trinity Financial Advisors LLC Sells 569 Shares of RTX Co. (NYSE:RTX)

Trinity Financial Advisors LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 10.9% during the 1st quarter, Holdings Channel reports. The firm owned 4,660 shares of the company’s stock after selling 569 shares during the period. Trinity Financial Advisors LLC’s holdings in RTX were worth $604,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at RTX

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada cut their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research report on Friday, April 25th. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, RTX currently has an average rating of “Buy” and a consensus target price of $159.82.

RTX Trading Down 1.7%

RTX opened at $138.52 on Wednesday. The stock has a 50-day moving average of $129.95 and a 200 day moving average of $126.07. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $141.12. The firm has a market cap of $185.06 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.96%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

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.