RTX Co. (NYSE:RTX) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lowered its position in shares of RTX Co. (NYSE:RTX) by 13.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,360 shares of the company’s stock after selling 668 shares during the quarter. Lake Street Private Wealth LLC’s holdings in RTX were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. RFG Advisory LLC raised its holdings in RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after purchasing an additional 19,779 shares during the period. TCW Group Inc. purchased a new stake in RTX during the 4th quarter worth approximately $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in RTX during the 4th quarter worth approximately $672,000. Mather Group LLC. increased its stake in RTX by 8.5% during the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after buying an additional 1,079 shares in the last quarter. Finally, Rockline Wealth Management LLC purchased a new stake in RTX during the 4th quarter worth approximately $2,438,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several research reports. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America upped their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Trading Up 0.3 %

Shares of RTX stock opened at $100.74 on Friday. The firm has a market capitalization of $133.93 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 1.77 and a beta of 0.82. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a 50 day moving average of $104.33 and a 200 day moving average of $95.99.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts predict that RTX Co. will post 5.39 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 paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on 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 directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.