The Manufacturers Life Insurance Company Sells 103,925 Shares of RTX Corporation $RTX

Key Points

• The Manufacturers Life Insurance Company reduced its stake in RTX Corporation by 7.5%, now owning approximately 0.10% of the company with shares valued at $168.7 million.
• Several analysts have adjusted their ratings and price targets for RTX, with Morgan Stanley increasing their target from $165 to $180 and Barclays raising it from $130 to $153.
• RTX reported $21.58 billion in revenue for the last quarter, exceeding expectations and showing a year-over-year revenue growth of 9.4%.

The Manufacturers Life Insurance Company lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,273,844 shares of the company's stock after selling 103,925 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of RTX worth $168,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Brighton Jones LLC lifted its holdings in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares during the period. Revolve Wealth Partners LLC raised its stake in RTX by 3.4% during the fourth 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 last quarter. Voleon Capital Management LP bought a new position in RTX during the fourth quarter worth $227,000. Mercer Global Advisors Inc. ADV bought a new position in RTX during the fourth quarter worth $23,133,000. Finally, South Plains Financial Inc. bought a new stake in RTX in the fourth quarter valued at $362,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Down 0.4%

Shares of NYSE:RTX traded down $0.69 on Tuesday, hitting $157.91. The company had a trading volume of 3,259,056 shares, compared to its average volume of 5,193,481. The firm's 50-day simple moving average is $152.45 and its two-hundred day simple moving average is $138.81. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $161.26. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $211.37 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.92 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the company posted $1.41 EPS. RTX's revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's dividend payout ratio (DPR) is 59.78%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Barclays boosted their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Morgan Stanley boosted their target price on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America upped their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by company insiders.

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.