Truist Financial Corp Reduces Position in RTX Co. (NYSE:RTX)

Truist Financial Corp reduced its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,110,744 shares of the company's stock after selling 223,497 shares during the period. Truist Financial Corp owned about 0.15% of RTX worth $177,598,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RTX. Boston Partners purchased a new stake in RTX in the 3rd quarter valued at about $355,350,000. Massachusetts Financial Services Co. MA increased its holdings in RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company's stock worth $602,941,000 after purchasing an additional 1,914,184 shares during the period. Van ECK Associates Corp increased its holdings in RTX by 8,331.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company's stock worth $127,120,000 after purchasing an additional 1,745,344 shares during the period. Sanders Capital LLC lifted its holdings in shares of RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company's stock worth $719,478,000 after buying an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company's stock worth $117,799,000 after buying an additional 1,389,143 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Activity

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RTX. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday. TD Cowen upped their price target on shares of RTX from $106.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 19th. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an "equal weight" rating in a report on Tuesday, January 30th. Finally, Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $96.27.

RTX Stock Down 0.3 %

Shares of RTX stock traded down $0.31 during trading hours on Friday, reaching $101.40. 4,428,266 shares of the company's stock were exchanged, compared to its average volume of 8,184,741. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The stock has a market cap of $134.81 billion, a PE ratio of 39.76, a PEG ratio of 1.84 and a beta of 0.88. The stock's fifty day moving average price is $95.57 and its two-hundred day moving average price is $87.51.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts' expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. Research analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.33%. RTX's payout ratio is presently 92.55%.

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.

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