RTX Co. (NYSE:RTX) Shares Sold by ZRC Wealth Management LLC

ZRC Wealth Management LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,608 shares of the company’s stock after selling 179 shares during the quarter. ZRC Wealth Management LLC’s holdings in RTX were worth $157,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Gotham Asset Management LLC raised its stake in shares of RTX by 86.9% during the 3rd quarter. Gotham Asset Management LLC now owns 27,664 shares of the company’s stock worth $1,991,000 after buying an additional 12,863 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of RTX by 5,145.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 23,971 shares of the company’s stock worth $1,725,000 after purchasing an additional 23,514 shares during the period. Ellerson Group Inc. ADV purchased a new position in shares of RTX during the 3rd quarter worth $141,000. ELCO Management Co. LLC raised its position in shares of RTX by 29.8% in the 3rd quarter. ELCO Management Co. LLC now owns 12,706 shares of the company’s stock worth $914,000 after buying an additional 2,918 shares during the period. Finally, Earnest Partners LLC raised its position in shares of RTX by 48.9% in the 3rd quarter. Earnest Partners LLC now owns 7,822 shares of the company’s stock worth $563,000 after buying an additional 2,569 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on RTX. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. 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. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Stock Performance

Shares of RTX stock traded up $0.33 during trading on Thursday, reaching $100.74. The company’s stock had a trading volume of 2,149,212 shares, compared to its average volume of 6,524,184. RTX Co. has a one year low of $68.56 and a one year 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 firm has a market cap of $133.93 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The business’s fifty day moving average price is $104.35 and its 200-day moving average price is $95.95.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS 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 business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the previous year, the business earned $1.22 EPS. RTX’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’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 in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.