Cambridge Trust Co. Sells 174,725 Shares of Rio Tinto Group (NYSE:RIO)

Cambridge Trust Co. lessened its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,838 shares of the mining company's stock after selling 174,725 shares during the quarter. Cambridge Trust Co.'s holdings in Rio Tinto Group were worth $7,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cowa LLC acquired a new position in shares of Rio Tinto Group during the first quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter worth $27,000. AdvisorNet Financial Inc grew its stake in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company's stock worth $28,000 after acquiring an additional 330 shares during the period. First Manhattan Co. boosted its stake in Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company's stock worth $30,000 after purchasing an additional 361 shares during the period. Finally, SouthState Corp bought a new position in Rio Tinto Group in the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Down 0.1 %

RIO stock traded down $0.09 on Thursday, hitting $66.69. 3,823,316 shares of the company's stock were exchanged, compared to its average volume of 2,966,926. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The firm has a 50 day moving average price of $64.92 and a two-hundred day moving average price of $67.02. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be issued a $2.58 dividend. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77.

Analysts Set New Price Targets

RIO has been the topic of a number of research reports. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Thursday. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a "buy" rating on the stock. Finally, Liberum Capital restated a "hold" rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $72.00.

Rio Tinto Group Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.