Ifrah Financial Services Inc. Sells 153 Shares of RTX Corporation (NYSE:RTX)

Ifrah Financial Services Inc. reduced its holdings in shares of RTX Corporation (NYSE:RTX) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,869 shares of the company’s stock after selling 153 shares during the quarter. Ifrah Financial Services Inc.’s holdings in RTX were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in RTX in the 4th quarter valued at $1,745,644,000. GAMMA Investing LLC raised its holdings in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after acquiring an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after buying an additional 3,164,844 shares in the last quarter. Amundi raised its holdings in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after buying an additional 1,522,251 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RTX. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. UBS Group upped their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Royal Bank Of Canada lowered their target price on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $161.12.

RTX Trading Up 0.9%

Shares of RTX stock opened at $145.80 on Friday. The stock has a market cap of $194.78 billion, a price-to-earnings ratio of 42.76, a PEG ratio of 2.63 and a beta of 0.64. The stock has a 50-day moving average of $137.24 and a 200-day moving average of $129.37. 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 1-year low of $99.42 and a 1-year high of $149.26.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. RTX’s payout ratio is 79.77%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the 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 completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is 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.