Valeo Financial Advisors LLC Sells 128 Shares of RTX Co. (NYSE:RTX)

Valeo Financial Advisors LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 96,063 shares of the company’s stock after selling 128 shares during the period. Valeo Financial Advisors LLC’s holdings in RTX were worth $9,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sloy Dahl & Holst LLC bought a new stake in shares of RTX in the 1st quarter worth approximately $226,000. Plimoth Trust Co. LLC boosted its position in RTX by 3.7% during the first quarter. Plimoth Trust Co. LLC now owns 38,163 shares of the company’s stock valued at $3,722,000 after buying an additional 1,347 shares during the period. Naviter Wealth LLC grew its stake in shares of RTX by 5.8% during the first quarter. Naviter Wealth LLC now owns 19,002 shares of the company’s stock valued at $1,853,000 after buying an additional 1,035 shares during the last quarter. Financial Security Advisor Inc. purchased a new position in shares of RTX in the first quarter worth about $226,000. Finally, Buffington Mohr McNeal lifted its stake in shares of RTX by 14.4% in the 1st quarter. Buffington Mohr McNeal now owns 16,014 shares of the company’s stock valued at $1,562,000 after acquiring an additional 2,013 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.33.

Insider Activity at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on 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 transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.3 %

Shares of RTX stock traded up $0.33 during trading on Wednesday, hitting $100.74. The company’s stock had a trading volume of 2,148,065 shares, compared to its average volume of 7,532,155. RTX Co. has a 52 week low of $68.56 and a 52 week 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 company has a fifty day simple moving average of $104.36 and a two-hundred day simple moving average of $95.92. The company has a market capitalization of $133.93 billion, a PE ratio of 39.38, a P/E/G ratio of 1.76 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the business earned $1.22 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

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.