Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in RTX Corporation (NYSE:RTX)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,853 shares of the company's stock after purchasing an additional 9,569 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in RTX were worth $20,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. MorganRosel Wealth Management LLC purchased a new position in RTX in the first quarter valued at about $26,000. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC purchased a new stake in RTX in the fourth quarter worth $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RTX shares. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Royal Bank Of Canada lowered their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group raised their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and an average price target of $161.12.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Price Performance

RTX stock traded down $1.73 during midday trading on Tuesday, hitting $144.29. 4,818,560 shares of the company's stock were exchanged, compared to its average volume of 5,365,917. The company has a market cap of $192.76 billion, a P/E ratio of 42.31, a PEG ratio of 2.61 and a beta of 0.63. 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 stock has a 50-day moving average price of $135.27 and a two-hundred day moving average price of $128.66. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.89%. RTX's dividend payout ratio (DPR) is currently 79.77%.

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.