Hartford Financial Management Inc. Decreases Stock Holdings in RTX Corporation (NYSE:RTX)

Hartford Financial Management Inc. decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,702 shares of the company’s stock after selling 637 shares during the period. Hartford Financial Management Inc.’s holdings in RTX were worth $4,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in RTX. LaFleur & Godfrey LLC raised its stake in RTX by 0.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after purchasing an additional 900 shares during the last quarter. Brighton Jones LLC raised its stake in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares during the last quarter. Empower Advisory Group LLC raised its stake in RTX by 7.3% in the 4th quarter. Empower Advisory Group LLC now owns 6,406 shares of the company’s stock valued at $741,000 after purchasing an additional 438 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in RTX by 59.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,537 shares of the company’s stock valued at $409,000 after purchasing an additional 1,312 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. 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 has a consensus rating of “Buy” and an average target price of $159.82.

RTX Price Performance

Shares of NYSE RTX opened at $145.81 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. The stock has a 50 day moving average of $132.69 and a two-hundred day moving average of $127.04. The stock has a market cap of $194.80 billion, a P/E ratio of 42.76, a P/E/G ratio of 2.68 and a beta of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is currently 79.77%.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated 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 owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Profile

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.