Machina Capital S.A.S. Sells 8,561 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Machina Capital S.A.S. significantly reduced its holdings in RTX Corporation by 75.6%, selling 8,561 shares and now owning 2,762 shares valued at $366,000.
• RTX reported earnings per share of $1.56, exceeding analyst expectations by $0.11, with a year-over-year revenue increase of 9.4% to $21.58 billion.
• The company announced a quarterly dividend of $0.68 per share, representing an annualized dividend yield of 1.73%, set to be paid out on September 4th.

Machina Capital S.A.S. decreased its position in RTX Corporation (NYSE:RTX - Free Report) by 75.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,762 shares of the company's stock after selling 8,561 shares during the period. Machina Capital S.A.S.'s holdings in RTX were worth $366,000 as of its most recent filing with the SEC.

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

RTX Price Performance

Shares of RTX stock traded up $1.64 on Friday, hitting $156.86. 4,727,235 shares of the company traded hands, compared to its average volume of 4,909,235. The firm's 50-day simple moving average is $143.48 and its 200 day simple moving average is $132.93. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $209.96 billion, a P/E ratio of 34.47, a P/E/G ratio of 2.89 and a beta of 0.64. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $157.33.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,530 shares of company stock valued at $3,080,191 in the last quarter. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America raised their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a report on Wednesday. Finally, Citigroup raised their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $154.88.

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.