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Bank of New York Mellon Corp Sells 998,211 Shares of RTX Corporation (NYSE:RTX)

RTX logo with Aerospace background

Bank of New York Mellon Corp reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,808,655 shares of the company's stock after selling 998,211 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of RTX worth $1,166,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Seascape Capital Management bought a new position in shares of RTX in the first quarter valued at $3,375,000. World Investment Advisors raised its holdings in shares of RTX by 4.0% in the 1st quarter. World Investment Advisors now owns 53,311 shares of the company's stock worth $7,062,000 after acquiring an additional 2,027 shares during the last quarter. Olde Wealth Management LLC bought a new position in RTX in the 1st quarter valued at about $60,000. Strategic Blueprint LLC boosted its stake in RTX by 1.8% during the 1st quarter. Strategic Blueprint LLC now owns 8,383 shares of the company's stock valued at $1,110,000 after purchasing an additional 148 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in RTX by 176.6% during the 1st quarter. Brookstone Capital Management now owns 104,088 shares of the company's stock worth $13,788,000 after purchasing an additional 66,455 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Price Performance

RTX stock traded up $1.28 during midday trading on Friday, reaching $145.80. 1,888,713 shares of the stock were exchanged, compared to its average volume of 5,345,078. The company's fifty day moving average is $137.24 and its 200-day moving average is $129.26. The firm has a market cap of $194.78 billion, a PE ratio of 42.76, a PEG ratio of 2.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52 week low of $99.42 and a 52 week high of $149.26.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, sell-side analysts forecast 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX's payout ratio is currently 79.77%.

Analysts Set New Price Targets

A number of research firms recently commented on RTX. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Royal Bank Of Canada dropped their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.12.

Read Our Latest Research Report on RTX

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated 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 directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents 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.

RTX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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