Mitsubishi UFJ Asset Management UK Ltd. Sells 2,000 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in RTX Corporation by 11.4%, selling 2,000 shares during the first quarter, leaving them with 15,500 shares valued at approximately $2.05 million.
• RTX Corporation reported $1.56 EPS for the last quarter, exceeding analysts' expectations, with quarterly revenue increasing by 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 to be paid in September, with a current dividend yield of 1.7%.

Mitsubishi UFJ Asset Management UK Ltd. reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,500 shares of the company's stock after selling 2,000 shares during the quarter. RTX comprises about 1.1% of Mitsubishi UFJ Asset Management UK Ltd.'s portfolio, making the stock its 21st biggest position. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in RTX were worth $2,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC acquired a new position in RTX during the 1st quarter worth approximately $26,000. 10Elms LLP purchased a new stake in shares of RTX in the fourth quarter worth approximately $29,000. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $43,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of RTX in the first quarter worth approximately $44,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.0%

RTX opened at $155.53 on Thursday. The company has a market cap of $208.18 billion, a P/E ratio of 34.18, a P/E/G ratio of 2.86 and a beta of 0.69. The business's 50-day moving average price is $148.92 and its 200-day moving average price is $136.01. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm 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 company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. On average, equities analysts expect 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. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's payout ratio is presently 59.78%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RTX shares. Bank of America upped their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. UBS Group upped their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Susquehanna upped their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a report on Friday, April 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $158.67.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 7,654 shares of the firm's 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 sale, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,589 shares of company stock valued at $7,126,389 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

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.

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