OLD National Bancorp IN Trims Stock Holdings in RTX Co. (NYSE:RTX)

OLD National Bancorp IN trimmed its holdings in RTX Co. (NYSE:RTX - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,307 shares of the company's stock after selling 2,800 shares during the quarter. OLD National Bancorp IN's holdings in RTX were worth $4,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service raised its holdings in shares of RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock worth $330,910,000 after buying an additional 375,781 shares during the period. Deutsche Bank AG raised its holdings in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of RTX in the fourth quarter worth approximately $3,356,000. Thoroughbred Financial Services LLC raised its holdings in shares of RTX by 43.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after buying an additional 7,987 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of RTX by 6.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company's stock worth $65,278,000 after buying an additional 32,024 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on RTX. UBS Group raised their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, Citigroup reduced their price objective on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Buy" and an average target price of $159.82.

RTX Stock Up 0.1%

RTX stock opened at $139.21 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $185.98 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a 1-year low of $99.07 and a 1-year high of $140.65. The business has a fifty day moving average price of $129.63 and a 200-day moving average price of $125.84.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.68 dividend. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.95%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction 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 transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

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.

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