West Paces Advisors Inc. Sells 294 Shares of RTX Co. (NYSE:RTX)

West Paces Advisors Inc. reduced its stake in RTX Co. (NYSE:RTX) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,140 shares of the company’s stock after selling 294 shares during the period. West Paces Advisors Inc.’s holdings in RTX were worth $501,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in RTX in the fourth quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new position in shares of RTX in the fourth quarter worth $30,000. Alaska Permanent Fund Corp purchased a new position in shares of RTX in the first quarter worth $42,000. Financial Gravity Asset Management Inc. raised its holdings in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of RTX in the fourth quarter worth $38,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of NYSE RTX traded down $0.31 during trading on Wednesday, hitting $101.26. The company had a trading volume of 6,910,279 shares, compared to its average volume of 7,547,610. The stock has a fifty day simple moving average of $104.43 and a two-hundred day simple moving average of $95.26. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The firm has a market capitalization of $134.63 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.83. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. On average, research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,937 shares of company stock worth $12,256,952. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RTX shares. Bank of America raised their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Barclays raised their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. TD Cowen raised their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Finally, Robert W. Baird raised their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.33.

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.