Sumitomo Mitsui Trust Group Inc. Has $395.38 Million Position in RTX Corporation (NYSE:RTX)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,984,915 shares of the company's stock after acquiring an additional 21,848 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of RTX worth $395,382,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the period. Geode Capital Management LLC grew its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC boosted its stake in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. boosted its stake in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after purchasing an additional 603,159 shares during the period. Finally, Norges Bank acquired a new stake in RTX during the 4th quarter worth $1,745,644,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm's 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 now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

RTX Stock Performance

Shares of RTX traded up $1.97 on Friday, reaching $144.64. 9,172,767 shares of the stock traded hands, compared to its average volume of 5,399,646. The firm has a market cap of $193.23 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 2.58 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The stock's 50-day moving average price is $134.87 and its 200-day moving average price is $128.29.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates 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%. Equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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 paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.88%. RTX's dividend payout ratio (DPR) is 79.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Susquehanna decreased their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Finally, UBS Group upped their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $161.12.

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.