American Century Companies Inc. Has $280.74 Million Stake in RTX Corporation $RTX

Key Points

• American Century Companies Inc. reduced its stake in RTX Corporation by 8.4%, owning approximately 2,119,430 shares after selling 195,031 shares in the first quarter.
• Several analysts have boosted their price targets for RTX, with Citigroup increasing it to $182.00 and UBS raising it to $177.00, indicating a strong consensus in the market.
• RTX recently announced a quarterly dividend of $0.68 per share, slated to be paid on September 4th, representing an annual yield of 1.8%.

American Century Companies Inc. lessened its holdings in RTX Corporation (NYSE:RTX - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,119,430 shares of the company's stock after selling 195,031 shares during the quarter. American Century Companies Inc. owned 0.16% of RTX worth $280,740,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC NC raised its position in shares of RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its position in shares of RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after acquiring an additional 82 shares in the last quarter. Weatherly Asset Management L. P. raised its position in shares of RTX by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after acquiring an additional 82 shares in the last quarter. CLG LLC raised its position in shares of RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after acquiring an additional 83 shares in the last quarter. Finally, Lcnb Corp raised its position in shares of RTX by 1.2% during the 1st quarter. Lcnb Corp now owns 7,117 shares of the company's stock worth $943,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Down 0.7%

Shares of NYSE RTX traded down $1.04 during mid-day trading on Friday, hitting $154.04. The company had a trading volume of 4,593,662 shares, compared to its average volume of 4,921,509. The company has a market capitalization of $206.19 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69. The firm has a 50-day simple moving average of $149.54 and a two-hundred day simple moving average of $136.53. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a one year low of $112.27 and a one year high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the company posted $1.41 earnings per share. RTX's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX's dividend payout ratio is presently 59.78%.

Insider Activity at RTX

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,589 shares of company stock valued at $7,126,389. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. Sanford C. Bernstein set a $154.00 price target on RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Susquehanna boosted their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Citigroup boosted their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Morgan Stanley boosted their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.67.

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.