RTX Corporation (NYSE:RTX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,750,861 shares of the company's stock after selling 68,986 shares during the period. Principal Financial Group Inc. owned about 0.13% of RTX worth $231,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Brighton Jones LLC grew its holdings in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in RTX by 47.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,922 shares of the company's stock valued at $338,000 after purchasing an additional 939 shares during the period. Assetmark Inc. grew its holdings in RTX by 19.3% in the fourth quarter. Assetmark Inc. now owns 171,103 shares of the company's stock valued at $19,800,000 after purchasing an additional 27,728 shares during the period. Finally, SPC Financial Inc. purchased a new stake in RTX in the fourth quarter valued at approximately $230,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Ratings Changes

RTX has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a report on Friday, April 25th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Up 0.9%

Shares of NYSE RTX traded up $1.28 during trading on Friday, reaching $145.80. 1,888,713 shares of the stock were exchanged, compared to its average volume of 5,345,078. The business's 50-day moving average price is $137.24 and its 200 day moving average price is $129.37. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $194.78 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.87%. RTX's payout ratio is currently 79.77%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president directly owned 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. Insiders own 0.15% of the company's stock.

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.