Federation des caisses Desjardins du Quebec Sells 11,289 Shares of RTX Corporation $RTX

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in RTX Corporation by 5.8%, selling 11,289 shares and holding 184,175 shares valued at approximately $24.4 million as of the end of the last quarter.
• RTX Corporation reported $1.56 earnings per share for the most recent quarter, surpassing analysts' expectations, with a revenue of $21.58 billion which is a 9.4% increase year-over-year.
• The company announced a quarterly dividend of $0.68 per share, with a yield of 1.7% and a payout ratio of 59.78%, while insiders sold over 56,000 shares in the last quarter.

Federation des caisses Desjardins du Quebec cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,175 shares of the company's stock after selling 11,289 shares during the period. Federation des caisses Desjardins du Quebec's holdings in RTX were worth $24,396,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RTX. MorganRosel Wealth Management LLC bought a new stake in RTX during the 1st quarter worth approximately $26,000. 10Elms LLP bought a new stake in RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC bought a new stake in RTX during the 4th quarter worth approximately $34,000. Summit Securities Group LLC bought a new position in RTX in the 1st quarter valued at $40,000. Finally, Mpwm Advisory Solutions LLC bought a new position in RTX in the 4th quarter valued at $43,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX stock opened at $157.91 on Wednesday. The business's fifty day moving average is $152.78 and its 200-day moving average is $138.94. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market cap of $211.37 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is currently 59.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RTX shares. Morgan Stanley increased their price objective on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Finally, Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $158.67.

Insider Activity

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the transaction, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,635 shares of company stock valued at $8,947,010. Company insiders own 0.15% of the company's stock.

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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