RTX Corporation (NYSE:RTX) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its holdings in RTX Corporation by 15.4%, ending the first quarter with 106,663 shares valued at approximately $14.13 million.
• RTX Corporation reported $1.56 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.45, with a revenue of $21.58 billion.
• RTX has announced a quarterly dividend of $0.68 per share, with an annualized yield of 1.8%, scheduled for payment on September 4th.

Mizuho Securities USA LLC reduced its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 15.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,663 shares of the company's stock after selling 19,487 shares during the quarter. Mizuho Securities USA LLC's holdings in RTX were worth $14,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after buying an additional 159 shares during the period. Scotia Capital Inc. bought a new position in RTX in the 4th quarter worth $17,653,000. Family Office Research LLC bought a new position in RTX in the 4th quarter worth $2,355,000. Finally, Heritage Trust Co bought a new position in shares of RTX during the 4th quarter valued at about $1,437,000. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling at RTX

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the 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 completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,935 shares of company stock valued at $5,938,488 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Barclays increased their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.02 on Monday, hitting $154.84. 3,572,241 shares of the company were exchanged, compared to its average volume of 5,106,436. The firm has a market capitalization of $207.25 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. The stock's 50 day moving average price is $148.22 and its 200 day moving average price is $135.73. RTX Corporation has a 1-year low of $112.27 and a 1-year 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.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

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 1.8%. RTX's payout ratio is currently 59.78%.

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.