Mackenzie Financial Corp Trims Stock Position in RTX Co. (NYSE:RTX)

Mackenzie Financial Corp decreased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 650,921 shares of the company's stock after selling 45,912 shares during the quarter. Mackenzie Financial Corp's holdings in RTX were worth $75,325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. lifted its holdings in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after buying an additional 79 shares during the period. Fusion Capital LLC grew its holdings in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc grew its holdings in RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after acquiring an additional 80 shares during the period. New England Professional Planning Group Inc. grew its holdings in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after acquiring an additional 81 shares during the period. Finally, Pointe Capital Management LLC grew its holdings in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RTX shares. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has an average rating of "Buy" and a consensus price target of $159.82.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. This represents a 25.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,643 shares of company stock valued at $6,198,889. 0.15% of the stock is owned by insiders.

RTX Stock Down 1.0%

NYSE RTX traded down $1.33 during mid-day trading on Wednesday, hitting $132.86. The company's stock had a trading volume of 5,422,720 shares, compared to its average volume of 5,396,942. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $177.49 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 2.11 and a beta of 0.60. The company's 50 day simple moving average is $129.07 and its 200 day simple moving average is $124.90. RTX Co. has a twelve month low of $99.07 and a twelve month high of $138.82.

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

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's payout ratio is 79.77%.

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.