ProShare Advisors LLC Sells 17,577 Shares of RTX Co. (NYSE:RTX)

ProShare Advisors LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,883 shares of the company’s stock after selling 17,577 shares during the period. ProShare Advisors LLC’s holdings in RTX were worth $16,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Gold Investment Management Ltd. boosted its holdings in RTX by 3.5% during the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock worth $297,000 after buying an additional 103 shares in the last quarter. Insight Inv LLC grew its position in shares of RTX by 0.6% during the 1st quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock valued at $1,687,000 after acquiring an additional 105 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of RTX by 7.9% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares in the last quarter. Jacobsen Capital Management boosted its position in RTX by 3.0% during the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its stake in shares of RTX by 1.2% during the 1st quarter. TRUE Private Wealth Advisors now owns 9,952 shares of the company’s stock worth $971,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock valued at $12,256,952 over the last quarter. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Monday. Barclays increased their target price on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.33.

RTX Stock Up 1.3 %

Shares of NYSE RTX opened at $104.98 on Thursday. The business’s fifty day simple moving average is $104.26 and its 200-day simple moving average is $97.26. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The stock has a market cap of $139.57 billion, a P/E ratio of 41.17, a PEG ratio of 1.85 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors 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 dividend yield of 2.40%. RTX’s payout ratio is currently 98.82%.

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.