Man Group plc Raises Holdings in RTX Co. (NYSE:RTX)

Man Group plc boosted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 466.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,256 shares of the company's stock after buying an additional 342,803 shares during the period. Man Group plc's holdings in RTX were worth $48,169,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in RTX by 1.1% during the 4th 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of 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 last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 last quarter. Finally, Norges Bank acquired a new position in shares of RTX during the 4th quarter worth approximately $1,745,644,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RTX. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $159.82.

RTX Trading Down 0.1%

NYSE:RTX traded down $0.15 during trading hours on Friday, reaching $135.37. 4,774,229 shares of the stock were exchanged, compared to its average volume of 5,384,147. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $128.66 and a two-hundred day moving average of $124.20. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.40. The company has a market capitalization of $180.85 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. On average, equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,946 shares of company stock worth $9,024,856. Corporate insiders own 0.15% of the company's stock.

About RTX

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.