Successful Portfolios LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Successful Portfolios LLC reduced its stake in RTX Co. (NYSE:RTX) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,798 shares of the company’s stock after selling 260 shares during the quarter. Successful Portfolios LLC’s holdings in RTX were worth $858,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors increased its position in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors raised its position in RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after acquiring an additional 6,932,011 shares during the period. Sanders Capital LLC grew its stake in shares of RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares during the period. Finally, Norges Bank purchased a new position in shares of RTX in the 4th quarter valued at about $690,154,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction 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 approximately $64,592,832.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following 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 sold 119,937 shares of company stock valued at $12,256,952 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays boosted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. UBS Group lifted their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Susquehanna lifted their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus price target of $98.33.

RTX Stock Performance

Shares of RTX stock opened at $100.39 on Monday. 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 firm has a market capitalization of $133.47 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The company has a 50 day moving average price of $104.42 and a 200 day moving average price of $95.65.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. Sell-side analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.51%. RTX’s dividend payout ratio is currently 98.82%.

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.