RTX Corporation (NYSE:RTX) Stake Decreased by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board has decreased its stake in RTX Corporation by 27%, holding 181,535 shares worth approximately $24 million.
• RTX reported $1.56 earnings per share (EPS) for the most recent quarter, surpassing the consensus estimate by 11 cents, and a revenue of $21.58 billion, a 9.4% increase year-over-year.
• The company declared a quarterly dividend of $0.68 per share, representing an annualized dividend yield of 1.8%, with a payout ratio of 59.78%.

Public Sector Pension Investment Board lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,535 shares of the company's stock after selling 67,278 shares during the period. Public Sector Pension Investment Board's holdings in RTX were worth $24,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new stake in RTX in the first quarter worth approximately $26,000. 10Elms LLP acquired a new stake in RTX in the fourth quarter worth approximately $29,000. Greenline Partners LLC acquired a new stake in RTX in the fourth quarter worth approximately $34,000. Mpwm Advisory Solutions LLC acquired a new stake in RTX in the fourth quarter worth approximately $43,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in RTX in the first quarter worth approximately $44,000. Institutional investors own 86.50% of the company's stock.

RTX Price Performance

Shares of NYSE:RTX opened at $154.84 on Tuesday. The company's fifty day moving average is $148.22 and its two-hundred day moving average is $135.73. 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 cap 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.

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

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

Insider Activity at RTX

In other news, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's 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 transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,935 shares of company stock valued at $5,938,488. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RTX shares. 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. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Susquehanna increased their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

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.

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