Intact Investment Management Inc. Sells 15,500 Shares of RTX Co. (NYSE:RTX)

Intact Investment Management Inc. cut its holdings in RTX Co. (NYSE:RTX) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,400 shares of the company’s stock after selling 15,500 shares during the quarter. Intact Investment Management Inc.’s holdings in RTX were worth $11,850,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RTX by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after acquiring an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after purchasing an additional 549,814 shares in the last quarter. Finally, Amundi increased its holdings in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on RTX. Susquehanna lifted their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Price Performance

Shares of NYSE RTX opened at $129.14 on Friday. The firm has a market capitalization of $172.03 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s 50-day simple moving average is $124.78 and its two-hundred day simple moving average is $122.01. RTX Co. has a twelve month low of $91.05 and a twelve month high of $135.36.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.