Veracity Capital LLC Sells 1,673 Shares of RTX Co. (NYSE:RTX)

Veracity Capital LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 37.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,807 shares of the company’s stock after selling 1,673 shares during the period. Veracity Capital LLC’s holdings in RTX were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gotham Asset Management LLC raised its position in shares of RTX by 86.9% during the third quarter. Gotham Asset Management LLC now owns 27,664 shares of the company’s stock worth $1,991,000 after purchasing an additional 12,863 shares during the period. Schonfeld Strategic Advisors LLC raised its position in RTX by 5,145.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 23,971 shares of the company’s stock valued at $1,725,000 after buying an additional 23,514 shares during the last quarter. Earnest Partners LLC raised its position in RTX by 48.9% in the 3rd quarter. Earnest Partners LLC now owns 7,822 shares of the company’s stock valued at $563,000 after buying an additional 2,569 shares during the last quarter. KPP Advisory Services LLC acquired a new stake in RTX in the 3rd quarter valued at approximately $444,000. Finally, Kennedy Capital Management LLC acquired a new stake in RTX in the 3rd quarter valued at approximately $840,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

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

RTX Stock Performance

RTX opened at $100.50 on Friday. The business has a fifty day simple moving average of $104.33 and a 200 day simple moving average of $95.99. The company has a market capitalization of $133.62 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

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 the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. Research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.51%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RTX shares. UBS Group lifted their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America boosted their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup boosted their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, TD Cowen boosted their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RTX has an average rating of “Hold” and a consensus target price of $98.33.

RTX Company 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.