LSV Asset Management Lowers Holdings in RTX Co. (NYSE:RTX)

LSV Asset Management decreased its stake in RTX Co. (NYSE:RTX) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,200 shares of the company’s stock after selling 21,100 shares during the quarter. LSV Asset Management’s holdings in RTX were worth $9,525,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RTX. Inspire Advisors LLC boosted its stake in shares of RTX by 73.0% during the 3rd quarter. Inspire Advisors LLC now owns 3,555 shares of the company’s stock worth $256,000 after acquiring an additional 1,500 shares in the last quarter. Conning Inc. raised its stake in shares of RTX by 12.0% in the third quarter. Conning Inc. now owns 422,738 shares of the company’s stock valued at $30,376,000 after acquiring an additional 45,156 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in RTX by 5.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 17,044 shares of the company’s stock worth $1,227,000 after purchasing an additional 841 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of RTX by 24.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 172,924 shares of the company’s stock valued at $12,445,000 after buying an additional 33,528 shares during the period. Finally, B&D White Capital Company LLC acquired a new stake in RTX in the third quarter valued at approximately $14,186,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold 135,618 shares of company stock valued at $13,397,978 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of several recent analyst reports. Barclays increased their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.93.

RTX Trading Up 1.3 %

NYSE:RTX opened at $103.22 on Wednesday. The stock has a market capitalization of $137.23 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The stock has a fifty day moving average price of $97.20 and a two-hundred day moving average price of $89.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is currently 92.55%.

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.