Intact Investment Management Inc. Sells 6,500 Shares of RTX Corporation (NYSE:RTX)

Intact Investment Management Inc. cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 95,900 shares of the company's stock after selling 6,500 shares during the quarter. Intact Investment Management Inc.'s holdings in RTX were worth $12,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. 10Elms LLP acquired a new position in shares of RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

RTX traded up $0.88 during trading hours on Friday, reaching $146.75. The company's stock had a trading volume of 9,218,508 shares, compared to its average volume of 5,413,915. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The company's 50-day moving average is $133.43 and its 200-day moving average is $127.54. 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 firm has a market cap of $196.05 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share 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 business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. On average, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is 79.77%.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Wednesday, May 14th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.82.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

RTX Company 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.