Opinicus Capital Inc. cut its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 15.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,070 shares of the company's stock after selling 2,546 shares during the period. RTX accounts for about 1.6% of Opinicus Capital Inc.'s portfolio, making the stock its 15th biggest position. Opinicus Capital Inc.'s holdings in RTX were worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service grew its holdings in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after purchasing an additional 375,781 shares during the last quarter. Deutsche Bank AG boosted its position in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of RTX during the fourth quarter valued at approximately $3,356,000. Thoroughbred Financial Services LLC grew its stake in shares of RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock valued at $3,046,000 after buying an additional 7,987 shares during the last quarter. 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. Hedge funds and other institutional investors own 86.50% of the company's stock.
Insider Buying and Selling
In other 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 sale, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now directly owns 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 disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Citigroup reduced their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Susquehanna dropped their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $159.82.
Read Our Latest Stock Analysis on RTX
RTX Stock Up 3.2%
RTX stock traded up $4.49 during mid-day trading on Friday, reaching $145.47. 11,752,057 shares of the company were exchanged, compared to its average volume of 5,400,534. RTX Co. has a 12-month low of $99.07 and a 12-month high of $146.02. The business has a fifty day moving average of $131.41 and a 200 day moving average of $126.54. The firm has a market cap of $194.34 billion, a P/E ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.
RTX (NYSE:RTX - Get Free Report) last issued 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. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.
RTX Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is presently 79.77%.
About RTX
(
Free Report)
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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