Panagora Asset Management Inc. Sells 162,179 Shares of RTX Corporation $RTX

Key Points

• Panagora Asset Management Inc. reduced its stake in RTX Corporation by 45.5%, selling 162,179 shares in the 1st quarter, leaving them with 194,125 shares worth approximately $25.7 million.
• Several institutional investors increased their positions in RTX, with Vanguard Group Inc. owning the largest share at over 119 million shares valued at $15.87 billion.
• RTX announced a quarterly dividend of $0.68 per share with a yield of 1.7%, slated for payment on September 4th to investors of record as of August 15th.

Panagora Asset Management Inc. trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 45.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 194,125 shares of the company's stock after selling 162,179 shares during the quarter. Panagora Asset Management Inc.'s holdings in RTX were worth $25,714,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after acquiring an additional 159 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in shares of RTX by 41.1% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 6,726 shares of the company's stock valued at $778,000 after acquiring an additional 1,960 shares in the last quarter. Gallagher Fiduciary Advisors LLC grew its position in RTX by 10.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 3,274 shares of the company's stock worth $379,000 after acquiring an additional 299 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in shares of RTX during the fourth quarter valued at about $102,000. Institutional investors own 86.50% of the company's stock.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company's stock, valued at $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction 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 $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,635 shares of company stock worth $8,947,010. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RTX shares. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Performance

Shares of NYSE RTX traded down $0.69 during midday trading on Tuesday, reaching $157.91. The company's stock had a trading volume of 3,259,056 shares, compared to its average volume of 3,604,400. The firm has a 50 day moving average price of $152.78 and a 200-day moving average price of $138.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market capitalization of $211.37 billion, a P/E ratio of 34.71, a PEG ratio of 2.92 and a beta of 0.67. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $161.26.

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, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the firm earned $1.41 EPS. The company's revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, 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 issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is 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.