RTX Corporation (NYSE:RTX) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. increased its holdings in RTX Corporation by 21.9% during the first quarter, now owning 3,168,270 shares worth approximately $419.7 million.
• Several institutional investors have also made changes to their RTX positions, leading to 86.50% of the company's stock being owned by institutional investors.
• RTX announced a quarterly dividend of $0.68 per share, with a yield of 1.7%, scheduled for payment on September 4th.

Citigroup Inc. increased its stake in RTX Corporation (NYSE:RTX - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,168,270 shares of the company's stock after purchasing an additional 569,634 shares during the period. Citigroup Inc. owned approximately 0.24% of RTX worth $419,669,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RTX. GAMMA Investing LLC boosted its stake in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after buying an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of RTX by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after acquiring an additional 1,394,918 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in RTX in the fourth quarter worth $138,585,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE:RTX traded down $0.78 during trading hours on Friday, reaching $154.98. The stock had a trading volume of 3,666,241 shares, compared to its average volume of 5,096,528. The stock has a market capitalization of $207.45 billion, a PE ratio of 34.06, a PEG ratio of 2.85 and a beta of 0.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a 50 day moving average price of $147.87 and a two-hundred day moving average price of $135.46. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79.

RTX (NYSE:RTX - Get Free Report) last announced its 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. The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. As a group, sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price objective on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Bank of America increased their price objective on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Susquehanna raised their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,935 shares of company stock valued at $5,938,488 in the last quarter. Corporate insiders own 0.15% of the company's stock.

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.