Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in RTX Corporation by 13.1% during Q1, owning nearly 2.4 million shares valued at approximately $317.9 million.
• RTX reported a Q2 EPS of $1.56, beating analysts' expectations and achieving a revenue of $21.58 billion, an increase of 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, which will be paid on September 4th, reflecting an annualized yield of 1.7%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 13.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,399,993 shares of the company's stock after purchasing an additional 278,298 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of RTX worth $317,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alesco Advisors LLC purchased a new position in RTX in the first quarter worth about $203,000. Evernest Financial Advisors LLC increased its position in shares of RTX by 4.9% during the 1st quarter. Evernest Financial Advisors LLC now owns 6,887 shares of the company's stock valued at $912,000 after purchasing an additional 323 shares during the last quarter. Silver Oak Advisory Group Inc. purchased a new stake in RTX during the 1st quarter valued at $226,000. Keb Asset Management LLC bought a new stake in RTX in the first quarter worth $200,000. Finally, Altfest L J & Co. Inc. boosted its stake in RTX by 11.1% during the first quarter. Altfest L J & Co. Inc. now owns 12,493 shares of the company's stock worth $1,655,000 after buying an additional 1,253 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX opened at $155.89 on Thursday. The firm has a market capitalization of $208.67 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.88 and a beta of 0.69. The business's 50-day moving average is $147.09 and its two-hundred day moving average is $134.95. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the company'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 transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,935 shares of company stock valued at $5,938,488. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Barclays upped their price objective on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Finally, Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Six investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

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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