RTX Corporation $RTX Shares Sold by Oak Grove Capital LLC

Key Points

• Oak Grove Capital LLC reduced its stake in RTX Corporation by 46.6%, now holding 30,807 shares valued at approximately $4.08 million, making it the 24th largest holding in their portfolio.
• Investment firms like Nuveen LLC and T. Rowe Price have significantly increased their investments in RTX, with Nuveen acquiring a $916 million position in the first quarter.
• RTX recently announced a quarterly dividend of $0.68 per share, which results in an annualized dividend of $2.72 and a dividend yield of 1.8%.

Oak Grove Capital LLC trimmed its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 46.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,807 shares of the company's stock after selling 26,900 shares during the period. RTX makes up about 0.9% of Oak Grove Capital LLC's investment portfolio, making the stock its 24th biggest position. Oak Grove Capital LLC's holdings in RTX were worth $4,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Northern Trust Corp boosted its stake in shares of RTX by 8.4% during the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after buying an additional 997,806 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted 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 buying an additional 3,164,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after buying an additional 104,139 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after buying an additional 154,544 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RTX

In other news, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. The trade was a 22.49% 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, insider Troy D. Brunk sold 7,654 shares of the business'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 owned 16,442 shares in the company, valued at $2,551,798.40. The trade was a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock valued at $7,126,389 over the last 90 days. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on RTX shares. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Citigroup increased their price target on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. Susquehanna increased their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Price Performance

Shares of RTX traded down $1.04 during mid-day trading on Friday, hitting $154.04. 4,593,662 shares of the stock were exchanged, compared to its average volume of 4,921,509. The company has a market cap of $206.19 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69. The firm has a 50-day moving average of $149.54 and a two-hundred day moving average of $136.53. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's payout ratio is currently 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.