Highland Capital Management LLC Lowers Stock Position in RTX Co. (NYSE:RTX)

Highland Capital Management LLC trimmed its position in RTX Co. (NYSE:RTX) by 3.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 115,792 shares of the company’s stock after selling 3,701 shares during the period. Highland Capital Management LLC’s holdings in RTX were worth $11,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. RFG Advisory LLC grew its position in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the period. TCW Group Inc. bought a new position in shares of RTX during the 4th quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in shares of RTX during the 4th quarter worth approximately $672,000. Mather Group LLC. raised its holdings in shares of RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares during the period. Finally, AllGen Financial Advisors Inc. grew its holdings in RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after purchasing an additional 3,657 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last 90 days. 0.13% of the stock is owned by insiders.

RTX Price Performance

RTX stock traded up $0.50 during midday trading on Friday, hitting $118.52. 3,427,510 shares of the company’s stock were exchanged, compared to its average volume of 5,713,840. The company has a market cap of $157.66 billion, a P/E ratio of 46.48, a PEG ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a 50-day moving average price of $108.59 and a two-hundred day moving average price of $102.24. RTX Co. has a 52-week low of $68.56 and a 52-week high of $118.99.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the business earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.13%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen boosted their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company cut their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $153.47.

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.