Cambridge Investment Research Advisors Inc. Sells 1,309 Shares of RTX Co. (NYSE:RTX)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,283 shares of the company’s stock after selling 1,309 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in RTX were worth $30,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bear Mountain Capital Inc. bought a new stake in RTX in the fourth quarter worth $25,000. Planned Solutions Inc. bought a new stake in RTX in the fourth quarter worth $30,000. Financial Gravity Asset Management Inc. increased its position in 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 purchasing an additional 345 shares during the last quarter. Valley National Advisers Inc. increased its position in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Milestone Investment Advisors LLC bought a new stake in RTX in the third quarter worth $37,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related 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 value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. 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 RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,042 shares of company stock worth $12,266,459. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RTX shares. UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Robert W. Baird lifted their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America lifted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $98.33.

RTX Stock Performance

Shares of NYSE RTX traded down $0.88 during midday trading on Thursday, reaching $105.43. 5,787,049 shares of the stock were exchanged, compared to its average volume of 7,818,697. The firm has a 50-day simple moving average of $100.78 and a two-hundred day simple moving average of $91.12. RTX Co. has a twelve month low of $68.56 and a twelve month high of $107.82. The firm has a market cap of $140.17 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 1.85 and a beta of 0.84. 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 announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. As a group, analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, May 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.