Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in RTX Corporation by 6.2% during the first quarter, owning 39,575 shares valued at approximately $5.24 million.
• Institutional investors own 86.50% of RTX's stock, with notable transactions including a new position from Nuveen LLC valued at $916.74 million and a massive 14,838.5% increase from GAMMA Investing LLC.
• RTX reported a quarterly earnings per share (EPS) of $1.56, exceeding analyst expectations, and is set to pay a quarterly dividend of $0.68 on September 4th.

Tokio Marine Asset Management Co. Ltd. grew its holdings in RTX Corporation (NYSE:RTX - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,575 shares of the company's stock after acquiring an additional 2,320 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in RTX were worth $5,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of RTX. Nuveen LLC purchased a new stake in shares of RTX during the 1st quarter worth $916,739,000. GAMMA Investing LLC lifted its position in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after purchasing an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RTX shares. Barclays lifted their price objective 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. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Finally, Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was 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 $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,589 shares of company stock valued at $7,126,389 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of RTX stock traded down $0.46 during trading hours on Thursday, hitting $155.25. 2,766,508 shares of the company were exchanged, compared to its average volume of 5,066,212. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $149.25 and a 200-day moving average of $136.22. The stock has a market capitalization of $207.81 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 2.87 and a beta of 0.69.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

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.