IFM Investors Pty Ltd Reduces Stake in RTX Co. (NYSE:RTX)

IFM Investors Pty Ltd lessened its position in shares of RTX Co. (NYSE:RTX) by 4.8% in the third quarter, Holdings Channel reports. The fund owned 131,552 shares of the company’s stock after selling 6,611 shares during the quarter. IFM Investors Pty Ltd’s holdings in RTX were worth $15,939,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Briaud Financial Planning Inc lifted its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX in the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter valued at $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of RTX in the 3rd quarter worth $50,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.6 %

RTX stock opened at $125.18 on Friday. The firm has a fifty day moving average price of $121.59 and a 200 day moving average price of $111.12. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70. The firm has a market cap of $166.52 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that RTX Co. will post 5.5 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $168.56.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s 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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,856 shares of company stock valued at $17,131,253. 0.13% of the stock is currently owned by insiders.

RTX Company 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.