Pacer Advisors Inc. Reduces Stock Position in RTX Corporation (NYSE:RTX)

Key Points

• Pacer Advisors Inc. reduced its holdings in RTX Corporation by 22.3% in the first quarter, owning 94,828 shares valued at approximately $12.56 million.
• RTX Corporation reported earnings of $1.56 per share for the last quarter, surpassing analysts' estimates, with revenues increasing 9.4% from the previous year to $21.58 billion.
• The company declared a quarterly dividend of $0.68 per share, representing an annualized dividend of $2.72 and a yield of 1.73%.

Pacer Advisors Inc. lowered its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,828 shares of the company's stock after selling 27,277 shares during the quarter. Pacer Advisors Inc.'s holdings in RTX were worth $12,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the period. Franklin Resources Inc. increased its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares during the period. Northern Trust Corp increased its position in shares of RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after acquiring an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the period. Finally, Invesco Ltd. increased its holdings in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX traded up $0.63 during mid-day trading on Wednesday, hitting $157.75. 781,510 shares of the company's stock were exchanged, compared to its average volume of 5,386,534. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The firm has a market capitalization of $211.15 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.87 and a beta of 0.64. The business's 50 day moving average is $144.25 and its two-hundred day moving average is $133.50. 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 announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.72%. RTX's payout ratio is currently 59.78%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Finally, Barclays increased their target price on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus price target of $157.13.

Insider Activity

In related news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $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 31,234 shares of company stock worth $4,439,755 in the last three months. 0.15% of the stock is currently owned by company insiders.

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.