RTX Co. (NYSE:RTX) Stake Lowered by New Century Financial Group LLC

New Century Financial Group LLC lessened its holdings in RTX Co. (NYSE:RTX) by 83.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,695 shares of the company’s stock after selling 8,797 shares during the period. New Century Financial Group LLC’s holdings in RTX were worth $225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. 10Elms LLP acquired a new stake in shares of RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake 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 acquired a new stake in shares of RTX in the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, 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 transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Royal Bank of Canada cut their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Finally, Citigroup cut their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of “Buy” and an average price target of $159.82.

RTX Stock Performance

NYSE RTX opened at $145.47 on Friday. The stock has a market cap of $194.34 billion, a P/E ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The company’s 50-day simple moving average is $131.41 and its 200 day simple moving average is $126.50. RTX Co. has a twelve month low of $99.07 and a twelve month high of $146.02. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating 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 net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

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.