RTX Corporation (NYSE:RTX) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its holdings in RTX Corporation by 30.5% during the first quarter, now owning approximately 0.15% of the company, equating to around $273.7 million.
• RTX announced a quarterly dividend of $0.68 per share, set to be paid on September 4th, which reflects an annualized yield of 1.7%.
• Recent insider trading saw executives sell a total of 39,935 shares worth about $5.9 million over the past three months, representing significant decreases in their ownership stakes.

Deutsche Bank AG lessened its holdings in RTX Corporation (NYSE:RTX - Free Report) by 30.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,066,285 shares of the company's stock after selling 907,057 shares during the period. Deutsche Bank AG owned about 0.15% of RTX worth $273,700,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Guardian Wealth Advisors LLC NC lifted its position in shares of RTX by 1.7% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares during the period. Foster Victor Wealth Advisors LLC lifted its position in shares of RTX by 2.1% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares during the period. Weatherly Asset Management L. P. lifted its position in shares of RTX by 0.4% in the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after purchasing an additional 82 shares during the period. CLG LLC lifted its position in shares of RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares during the period. Finally, 49 Wealth Management LLC lifted its position in RTX by 3.3% during the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RTX. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a research report on Friday, April 25th. Morgan Stanley increased their target price on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Performance

Shares of RTX stock traded down $0.78 during trading on Friday, hitting $154.98. 3,666,241 shares of the company's stock were exchanged, compared to its average volume of 5,096,528. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business has a 50-day simple moving average of $147.87 and a 200-day simple moving average of $135.46. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The stock has a market capitalization of $207.45 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.85 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $20.68 billion. During the same quarter last year, the company posted $1.41 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio is presently 59.78%.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the firm'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 sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,935 shares of company stock worth $5,938,488 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

About RTX

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.