International Assets Investment Management LLC Lowers Holdings in RTX Co. (NYSE:RTX)

International Assets Investment Management LLC cut its stake in RTX Co. (NYSE:RTX) by 98.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,290 shares of the company’s stock after selling 1,384,745 shares during the period. International Assets Investment Management LLC’s holdings in RTX were worth $1,495,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in shares of RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors increased its stake in RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Sanders Capital LLC lifted its stake in shares of RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of RTX during the 4th quarter worth about $690,154,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. UBS Group boosted their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, 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 report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

NYSE:RTX opened at $105.61 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $104.38 and a 200 day moving average price of $94.97. The firm has a market capitalization of $140.41 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. Research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.39%. RTX’s dividend payout ratio is 98.82%.

Insider Activity at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were 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 directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX 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 sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by company insiders.

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.