RTX Corporation (NYSE:RTX) Position Trimmed by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC reduced its holdings in RTX Corporation (NYSE:RTX) by 2.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,248 shares of the company’s stock after selling 791 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in RTX were worth $3,477,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. LaFleur & Godfrey LLC boosted its holdings in shares of RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after acquiring an additional 900 shares during the period. Brighton Jones LLC boosted its stake in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC boosted its stake in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares during the period. WBH Advisory Inc. grew its position in RTX by 8.6% in the 4th quarter. WBH Advisory Inc. now owns 7,392 shares of the company’s stock worth $855,000 after purchasing an additional 586 shares during the last quarter. Finally, Strategic Advisors LLC increased its stake in shares of RTX by 11.2% in the fourth quarter. Strategic Advisors LLC now owns 4,045 shares of the company’s stock valued at $468,000 after purchasing an additional 409 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reduced their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $159.82.

RTX Price Performance

Shares of NYSE:RTX opened at $148.50 on Wednesday. The company has a market capitalization of $198.39 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a fifty day moving average of $132.34 and a 200-day moving average of $126.91. RTX Corporation has a one year low of $99.07 and a one year high of $149.56.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, equities analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is 79.77%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 transaction, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $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 company insiders.

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.