Farther Finance Advisors LLC Sells 8,457 Shares of RTX Co. (NYSE:RTX)

Farther Finance Advisors LLC lessened its holdings in RTX Co. (NYSE:RTX) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,067 shares of the company’s stock after selling 8,457 shares during the period. Farther Finance Advisors LLC’s holdings in RTX were worth $5,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. 10Elms LLP bought a new position in RTX during the 4th quarter worth $29,000. Fairway Wealth LLC bought a new position in RTX during the 4th quarter worth $31,000. Picton Mahoney Asset Management increased its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC bought a new position in RTX during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the 4th quarter worth $39,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $140.94 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $188.29 billion, a PE ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $141.33. The business has a 50-day simple moving average of $129.78 and a two-hundred day simple moving average of $125.98.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s payout ratio is 79.77%.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 23rd. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Citigroup decreased their price target on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $159.82.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on 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 transaction, the vice president now directly owns 9,546 shares in the company, 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. Company insiders own 0.15% of the company’s stock.

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.