The Manufacturers Life Insurance Company Sells 43,494 Shares of RTX Co. (NYSE:RTX)

The Manufacturers Life Insurance Company decreased its stake in RTX Co. (NYSE:RTX) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,325,298 shares of the company’s stock after selling 43,494 shares during the period. The Manufacturers Life Insurance Company’s holdings in RTX were worth $160,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RTX. Fisher Asset Management LLC increased its position in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the period. Legal & General Group Plc increased its position in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Ameriprise Financial Inc. increased its position in shares of RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares during the period. Dimensional Fund Advisors LP raised its stake in RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after buying an additional 417,789 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in RTX by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock valued at $355,927,000 after buying an additional 38,930 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on RTX. Royal Bank of Canada increased their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Price Performance

Shares of NYSE RTX opened at $120.62 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm’s 50-day simple moving average is $122.16 and its 200 day simple moving average is $114.26. The stock has a market cap of $160.55 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a fifty-two week low of $79.13 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX’s payout ratio is 72.00%.

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.