MetLife Investment Management LLC Cuts Stock Holdings in RTX Corporation $RTX

Key Points

• MetLife Investment Management LLC reduced its stake in RTX Corporation by 1.8%, holding 345,956 shares worth approximately $45.8 million after selling 6,319 shares in Q1.
• Several institutional investors, including Vanguard Group Inc. and Northern Trust Corp, have increased their stakes in RTX, raising confidence in the stock's potential.
• RTX announced a quarterly dividend of $0.68, reflecting a 1.7% dividend yield, with the payout ratio currently at 59.78%.

MetLife Investment Management LLC lessened its position in RTX Corporation (NYSE:RTX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 345,956 shares of the company's stock after selling 6,319 shares during the period. MetLife Investment Management LLC's holdings in RTX were worth $45,825,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Bay Capital Advisors LLC purchased a new stake in RTX during the first quarter valued at approximately $224,000. Dynamic Advisor Solutions LLC increased its holdings in RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after buying an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC purchased a new stake in RTX during the first quarter valued at approximately $1,288,000. Deutsche Bank AG increased its holdings in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares during the last quarter. Finally, LBP AM SA increased its holdings in RTX by 17.7% during the first quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after buying an additional 41,990 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Susquehanna upped their target price on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. UBS Group upped their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley upped their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $158.67.

Insiders Place Their Bets

In other news, 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 value of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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.

RTX Price Performance

RTX stock traded up $0.92 during trading on Thursday, hitting $160.76. 3,115,856 shares of the company's stock traded hands, compared to its average volume of 5,213,895. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $161.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business has a fifty day simple moving average of $151.66 and a 200 day simple moving average of $137.96. The stock has a market capitalization of $215.18 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 2.94 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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 net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the business earned $1.41 earnings per share. RTX's quarterly revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

RTX 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.