Russell Investments Group Ltd. Sells 62,696 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Russell Investments Group Ltd. reduced its stake in RTX Corporation by 7.4%, owning approximately 779,115 shares worth $103.2 million as of the latest SEC filing.
• Insider trading saw VP Kevin G. Dasilva and EVP Dantaya M. Williams sell a significant number of shares, with Dasilva's position decreasing by 22.49% and Williams's by 50.57%.
• RTX recently declared a quarterly dividend of $0.68 per share, with a dividend yield of 1.7%, and has a market cap of approximately $208.20 billion.

Russell Investments Group Ltd. decreased its position in RTX Corporation (NYSE:RTX - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 779,115 shares of the company's stock after selling 62,696 shares during the period. Russell Investments Group Ltd. owned about 0.06% of RTX worth $103,197,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in RTX in the first quarter valued at approximately $26,000. 10Elms LLP purchased a new position in RTX in the fourth quarter valued at approximately $29,000. Greenline Partners LLC purchased a new position in RTX in the fourth quarter valued at approximately $34,000. McClarren Financial Advisors Inc. purchased a new stake in shares of RTX during the first quarter worth $44,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,589 shares of company stock valued at $7,126,389. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group increased their target price on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Citigroup increased their target price on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 target price on RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Finally, DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX presently has an average rating of "Moderate Buy" and an average price target of $158.67.

RTX Price Performance

Shares of RTX stock traded down $0.46 on Thursday, reaching $155.25. The company's stock had a trading volume of 2,766,508 shares, compared to its average volume of 5,066,212. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The company has a market capitalization of $207.81 billion, a P/E ratio of 34.12, a PEG ratio of 2.87 and a beta of 0.69. The stock's 50 day simple moving average is $149.25 and its 200-day simple moving average is $136.22.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter last year, the business posted $1.41 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's payout ratio is 59.78%.

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.