Norden Group LLC Reduces Stock Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Norden Group LLC reduced its holdings in RTX Corporation by **21.9%**, selling **8,350 shares** to now own **29,694 shares** valued at **$3,933,000**.
• RTX reported earnings of **$1.56 per share**, exceeding analysts' expectations, with quarterly revenue at **$21.58 billion**, up **9.4%** from the previous year.
• The company announced a quarterly dividend of **$0.68**, translating to an **annual yield of 1.73%**, with a payout ratio of **59.78%**.

Norden Group LLC lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,694 shares of the company's stock after selling 8,350 shares during the period. Norden Group LLC's holdings in RTX were worth $3,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Geode Capital Management LLC grew its holdings in RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the period. Franklin Resources Inc. lifted its holdings in RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the period. Northern Trust Corp boosted its position in RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after purchasing an additional 1,522,251 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 1.1%

Shares of RTX opened at $156.86 on Monday. The stock has a 50 day moving average price of $143.48 and a 200 day moving average price of $133.04. 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 stock has a market capitalization of $209.96 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.89 and a beta of 0.64. RTX Corporation has a one year low of $112.27 and a one year high of $157.33.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during 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%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX's payout ratio is 59.78%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price target (up from $165.00) on shares of RTX in a report on Wednesday. Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.69.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,530 shares of company stock valued at $3,080,191 in the last ninety days. 0.15% of the stock is currently owned by corporate 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.

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