Price T Rowe Associates Inc. MD Sells 443,652 Shares of RTX Co. (NYSE:RTX)

Price T Rowe Associates Inc. MD lowered its position in shares of RTX Co. (NYSE:RTX) by 11.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,287,896 shares of the company’s stock after selling 443,652 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.25% of RTX worth $320,669,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in shares of RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors raised its holdings in shares of RTX by 20.6% during 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 period. Norges Bank acquired a new position in shares of RTX during the fourth quarter valued at about $690,154,000. 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 acquiring an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after acquiring an additional 2,294,908 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RTX. Royal Bank of Canada upped their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday. Citigroup upped their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TD Cowen upped their target price on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, UBS Group increased their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $148.69.

RTX Stock Performance

Shares of RTX traded up $0.48 during mid-day trading on Friday, hitting $113.95. The stock had a trading volume of 7,526,513 shares, compared to its average volume of 6,530,945. The firm has a market cap of $151.50 billion, a P/E ratio of 44.69, a PEG ratio of 2.02 and a beta of 0.82. The business has a fifty day moving average price of $104.47 and a 200-day moving average price of $98.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.79. RTX Co. has a 52 week low of $68.56 and a 52 week high of $115.82.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) 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 firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that RTX Co. will post 5.42 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.21%. RTX’s payout ratio is 98.82%.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

RTX 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.