Northern Trust Corp Increases Holdings in Rio Tinto PLC $RIO

Key Points

• Northern Trust Corp increased its holdings in Rio Tinto PLC by 3.8%, now owning 1,663,964 shares valued at approximately $99.97 million.
• A variety of institutional investors, including Capital Analysts LLC and Quintet Private Bank Europe S.A., have also adjusted their stakes in Rio Tinto in recent quarters.
• Analysts' ratings for Rio Tinto vary, with some institutions downgrading the stock while others maintain an "overweight" rating, resulting in an average rating of "Moderate Buy."

Northern Trust Corp lifted its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,663,964 shares of the mining company's stock after acquiring an additional 60,927 shares during the period. Northern Trust Corp owned 0.13% of Rio Tinto worth $99,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RIO. Capital Analysts LLC lifted its holdings in Rio Tinto by 6.0% in the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock worth $170,000 after purchasing an additional 163 shares in the last quarter. Aspen Wealth Strategies LLC raised its position in shares of Rio Tinto by 3.7% during the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock valued at $289,000 after buying an additional 172 shares during the last quarter. Hamilton Point Investment Advisors LLC lifted its holdings in shares of Rio Tinto by 0.4% in the first quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company's stock worth $2,767,000 after buying an additional 194 shares in the last quarter. Walker Asset Management LLC boosted its position in shares of Rio Tinto by 4.8% during the first quarter. Walker Asset Management LLC now owns 4,326 shares of the mining company's stock worth $260,000 after acquiring an additional 200 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. grew its stake in Rio Tinto by 10.0% during the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock valued at $132,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

RIO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Barclays reissued an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Finally, Wall Street Zen cut Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Trading Up 2.2%

RIO opened at $62.6460 on Friday. The firm has a market cap of $78.57 billion, a P/E ratio of 9.71 and a beta of 0.64. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $60.10 and a 200 day moving average of $60.35.

Rio Tinto Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, August 15th will be issued a $1.48 dividend. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto's payout ratio is 45.74%.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.

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