Fayez Sarofim & Co Sells 10,558 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Fayez Sarofim & Co reduced its shareholding in RTX Corporation by 1.6%, selling 10,558 shares, and now holds 663,976 shares valued at approximately $87.95 million.
• RTX reported a quarterly earnings per share (EPS) of $1.56, exceeding analyst estimates, with revenue of $21.58 billion representing a 9.4% increase year-over-year.
• The company declared a quarterly dividend of $0.68 per share with an annualized yield of 1.7%, to be paid on September 4th for stockholders of record by August 15th.

Fayez Sarofim & Co lowered its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 663,976 shares of the company's stock after selling 10,558 shares during the period. Fayez Sarofim & Co's holdings in RTX were worth $87,950,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bay Capital Advisors LLC bought a new position in shares of RTX during the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC grew its holdings in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC bought a new position in shares of RTX during the 1st quarter valued at $1,288,000. Deutsche Bank AG grew its holdings in shares of RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Finally, LBP AM SA boosted its position in RTX by 17.7% during the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after buying an additional 41,990 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Stock Down 0.3%

NYSE:RTX opened at $155.89 on Thursday. The firm has a market cap of $208.67 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.88 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. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The firm has a 50-day simple moving average of $147.09 and a two-hundred day simple moving average of $134.95.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared 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 1.7%. RTX's payout ratio is presently 59.78%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Susquehanna increased their price target on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley upped their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped 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. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,935 shares of company stock worth $5,938,488. 0.15% of the stock is owned by insiders.

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.

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