West Paces Advisors Inc. Decreases Stake in RTX Co. (NYSE:RTX)

West Paces Advisors Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,786 shares of the company’s stock after selling 300 shares during the quarter. West Paces Advisors Inc.’s holdings in RTX were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in RTX by 12.8% during the first quarter. GAMMA Investing LLC now owns 31,430 shares of the company’s stock worth $4,163,000 after purchasing an additional 3,561 shares in the last quarter. First National Bank Sioux Falls acquired a new stake in RTX during the first quarter worth approximately $265,000. Wealthcare Advisory Partners LLC raised its holdings in RTX by 4.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 13,474 shares of the company’s stock worth $1,785,000 after purchasing an additional 518 shares in the last quarter. Requisite Capital Management LLC acquired a new stake in RTX during the first quarter worth approximately $234,000. Finally, Panoramic Capital Partners LLC purchased a new stake in RTX in the 1st quarter valued at $264,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada reduced their price target 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. Citigroup reduced their price target 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. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Finally, Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Buy” and an average target price of $159.82.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following 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 Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, 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. 0.15% of the stock is owned by corporate insiders.

RTX Price Performance

Shares of NYSE RTX opened at $140.94 on Tuesday. The stock has a market cap of $188.29 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $141.33. The company’s 50-day moving average price is $129.78 and its 200 day moving average price is $125.98. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The firm 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 declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is currently 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.