Intech Investment Management LLC Decreases Position in RTX Co. (NYSE:RTX)

Intech Investment Management LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,469 shares of the company’s stock after selling 832 shares during the period. Intech Investment Management LLC’s holdings in RTX were worth $2,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Motco grew its position in shares of RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares in the last quarter. Gold Investment Management Ltd. grew its position in shares of RTX by 3.5% in the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock valued at $297,000 after purchasing an additional 103 shares in the last quarter. Insight Inv LLC grew its position in shares of RTX by 0.6% in the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock valued at $1,687,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares in the last quarter. Finally, Jacobsen Capital Management grew its position in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after purchasing an additional 114 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 1.0 %

Shares of NYSE RTX traded down $1.03 during mid-day trading on Friday, hitting $102.81. The company had a trading volume of 7,229,794 shares, compared to its average volume of 6,931,716. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $136.69 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. The business’s 50-day simple moving average is $104.15 and its 200 day simple moving average is $97.52.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the firm earned $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts predict that RTX Co. will post 5.4 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Company increased their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.33.

RTX 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.