Mackenzie Financial Corp Increases Stock Position in RTX Corporation (NYSE:RTX)

Key Points

• Mackenzie Financial Corp has increased its stake in RTX Corporation by 3.9%, with a total of 676,606 shares valued at approximately $89.6 million.
• Insider sales have occurred, with VP Kevin G. Dasilva and VP Amy L. Johnson selling a combined total of 12,850 shares of RTX stock, reflecting a decline in their ownership percentages.
• RTX recently posted quarterly earnings of $1.56 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.68 to be paid in September.

Mackenzie Financial Corp increased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 676,606 shares of the company's stock after purchasing an additional 25,685 shares during the period. Mackenzie Financial Corp owned 0.05% of RTX worth $89,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in shares of RTX in the 4th quarter valued at approximately $29,000. Greenline Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of RTX in the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RTX shares. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research report on Monday, July 21st. Citigroup increased their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Morgan Stanley increased their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,234 shares of company stock worth $4,439,755 in the last ninety days. 0.15% of the stock is currently owned by insiders.

RTX Stock Performance

NYSE RTX traded down $0.77 during trading on Friday, reaching $156.80. The company's stock had a trading volume of 2,096,500 shares, compared to its average volume of 5,381,405. 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 $209.88 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 2.92 and a beta of 0.64. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The business's fifty day moving average price is $145.20 and its 200-day moving average price is $133.94.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS 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 analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.7%. RTX's payout ratio is 59.78%.

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.