RTX Co. (NYSE:RTX) Shares Sold by Bailard Inc.

Bailard Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 15.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,711 shares of the company’s stock after selling 676 shares during the period. Bailard Inc.’s holdings in RTX were worth $372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors boosted 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 worth $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors increased its stake in RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares during the last quarter. Norges Bank acquired a new stake in shares of RTX in the fourth quarter worth $690,154,000. Massachusetts Financial Services Co. MA boosted its position in RTX by 82.7% during 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. Finally, Van ECK Associates Corp raised its position in RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after purchasing an additional 2,294,908 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Stock Performance

RTX opened at $118.68 on Tuesday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $119.73. The company has a market capitalization of $157.79 billion, a price-to-earnings ratio of 46.54, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The business has a 50 day moving average price of $108.87 and a two-hundred day moving average price of $102.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s dividend payout ratio is currently 98.82%.

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.