Cohen Klingenstein LLC Sells 2,600 Shares of RTX Co. (NYSE:RTX)

Cohen Klingenstein LLC decreased its holdings in RTX Co. (NYSE:RTX) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,427 shares of the company’s stock after selling 2,600 shares during the period. RTX comprises approximately 0.8% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 23rd biggest holding. Cohen Klingenstein LLC’s holdings in RTX were worth $20,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. LaFleur & Godfrey LLC raised its position in shares of 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 buying an additional 900 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of RTX by 24.3% during the fourth 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 period. Revolve Wealth Partners LLC grew its holdings in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after buying an additional 159 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX during the fourth quarter valued at approximately $40,000. Finally, Soltis Investment Advisors LLC lifted its position in shares of RTX by 5.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 15,993 shares of the company’s stock valued at $1,851,000 after buying an additional 823 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were 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 now owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was 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.

Analyst Ratings Changes

A number of research firms recently commented on RTX. Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Citigroup dropped their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Finally, Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $159.82.

RTX Price Performance

Shares of RTX stock opened at $138.52 on Wednesday. RTX Co. has a 52 week low of $99.07 and a 52 week high of $141.12. The stock has a market cap of $185.06 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $129.95 and its two-hundred day moving average price is $126.07.

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

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is 79.77%.

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.