RTX Corporation (NYSE:RTX) Stock Holdings Lessened by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial Investment Management Inc. reduced its stake in RTX Corporation by 1.3%, now holding 294,259 shares worth approximately $38.98 million.
• RTX's recent earnings report showed an EPS of $1.56, exceeding expectations, with revenue of $21.58 billion reflecting a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $0.68 per share, representing a 1.72% yield, with plans for distribution to shareholders on September 4th.

Mesirow Financial Investment Management Inc. lessened its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,259 shares of the company's stock after selling 3,943 shares during the quarter. RTX accounts for 0.8% of Mesirow Financial Investment Management Inc.'s investment portfolio, making the stock its 25th biggest position. Mesirow Financial Investment Management Inc.'s holdings in RTX were worth $38,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arkadios Wealth Advisors lifted its stake in shares of RTX by 53.5% during the first quarter. Arkadios Wealth Advisors now owns 31,401 shares of the company's stock worth $4,159,000 after purchasing an additional 10,940 shares in the last quarter. Vestcor Inc grew its position in RTX by 4.7% in the first quarter. Vestcor Inc now owns 25,747 shares of the company's stock valued at $3,410,000 after acquiring an additional 1,149 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in RTX in the first quarter valued at approximately $4,287,000. Premier Fund Managers Ltd acquired a new stake in RTX in the first quarter valued at approximately $8,102,000. Finally, Federated Hermes Inc. grew its position in RTX by 24.9% in the first quarter. Federated Hermes Inc. now owns 281,859 shares of the company's stock valued at $37,335,000 after acquiring an additional 56,226 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

RTX traded up $1.39 during trading hours on Wednesday, hitting $158.51. The company's stock had a trading volume of 3,994,084 shares, compared to its average volume of 4,567,239. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. 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 firm has a market capitalization of $212.17 billion, a PE ratio of 34.84, a PEG ratio of 2.89 and a beta of 0.64. The company has a 50-day simple moving average of $144.73 and a 200 day simple moving average of $133.67.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.72%. RTX's dividend payout ratio is presently 59.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RTX shares. Bank of America increased their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. UBS Group increased their price objective on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.13.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred 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 transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,234 shares of company stock valued at $4,439,755 in the last ninety days. Company insiders own 0.15% of the company's stock.

RTX Company 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.