Westside Investment Management Inc. Has $345,000 Position in RTX Co. (NYSE:RTX)

Westside Investment Management Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,531 shares of the company’s stock after selling 200 shares during the quarter. Westside Investment Management Inc.’s holdings in RTX were worth $345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norden Group LLC increased its position in RTX by 2,449.0% in the 1st quarter. Norden Group LLC now owns 395,347 shares of the company’s stock valued at $38,558,000 after buying an additional 379,837 shares in the last quarter. Bourgeon Capital Management LLC increased its position in RTX by 11.2% in the 1st quarter. Bourgeon Capital Management LLC now owns 87,795 shares of the company’s stock valued at $8,563,000 after buying an additional 8,870 shares in the last quarter. Valley National Advisers Inc. increased its position in RTX by 44.7% in the 1st quarter. Valley National Advisers Inc. now owns 1,729 shares of the company’s stock valued at $168,000 after buying an additional 534 shares in the last quarter. Sloy Dahl & Holst LLC bought a new stake in RTX in the 1st quarter valued at about $226,000. Finally, Plimoth Trust Co. LLC increased its position in RTX by 3.7% in the 1st quarter. Plimoth Trust Co. LLC now owns 38,163 shares of the company’s stock valued at $3,722,000 after buying an additional 1,347 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were 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 in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 over the last three months. Insiders own 0.13% of the company’s stock.

RTX Stock Up 0.3 %

RTX stock opened at $100.74 on Thursday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The firm has a market capitalization of $133.93 billion, a price-to-earnings ratio of 39.51, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $104.35 and a 200 day simple moving average of $95.95.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. On average, analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RTX shares. Susquehanna lifted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Barclays lifted their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price of $98.33.

About RTX

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.