Griffin Asset Management Inc. Sells 1,222 Shares of RTX Co. (NYSE:RTX)

Griffin Asset Management Inc. cut its holdings in RTX Co. (NYSE:RTX) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,420 shares of the company’s stock after selling 1,222 shares during the period. RTX comprises 1.3% of Griffin Asset Management Inc.’s holdings, making the stock its 23rd largest holding. Griffin Asset Management Inc.’s holdings in RTX were worth $10,520,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. LaFleur & Godfrey LLC boosted its stake in shares of RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock worth $20,620,000 after purchasing an additional 900 shares during the period. Brighton Jones LLC boosted its stake in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after purchasing an additional 159 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of RTX by 6.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock worth $65,278,000 after purchasing an additional 32,024 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of RTX by 9.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 540,535 shares of the company’s stock worth $63,086,000 after purchasing an additional 45,051 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX opened at $145.47 on Friday. The company has a 50 day moving average price of $131.41 and a 200-day moving average price of $126.50. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $146.02. The stock has a market capitalization of $194.34 billion, a PE ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating 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 company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. Equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

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

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction 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. 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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on RTX shares. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. 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 research note on Thursday, April 10th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group upped their target price on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Three equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $159.82.

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.