Comerica Bank Cuts Stake in RTX Co. (NYSE:RTX)

Comerica Bank decreased its position in RTX Co. (NYSE:RTX - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747,778 shares of the company's stock after selling 24,684 shares during the period. Comerica Bank owned approximately 0.06% of RTX worth $86,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC lifted its position in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Franklin Resources Inc. boosted its stake in RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after purchasing an additional 603,159 shares during the period. Finally, Norges Bank bought a new position in shares of RTX during the fourth quarter worth $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock traded up $2.89 during mid-day trading on Friday, reaching $130.30. The stock had a trading volume of 5,002,098 shares, compared to its average volume of 5,480,324. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. 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 firm has a market cap of $174.07 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.11 and a beta of 0.58. The business's fifty day moving average is $128.48 and its 200-day moving average is $123.84.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $19.80 billion. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.09%. This is a positive change from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is 73.90%.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. UBS Group lifted their target price on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $161.06.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. 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.