Mackenzie Financial Corp Sells 5,409 Shares of RTX Co. (NYSE:RTX)

Mackenzie Financial Corp reduced its holdings in shares of RTX Co. (NYSE:RTX) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 719,733 shares of the company’s stock after selling 5,409 shares during the quarter. Mackenzie Financial Corp owned approximately 0.05% of RTX worth $60,558,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bear Mountain Capital Inc. bought a new position in shares of RTX in the fourth quarter valued at $25,000. Strengthening Families & Communities LLC bought a new position in shares of RTX in the third quarter valued at $28,000. Quarry LP bought a new position in shares of RTX in the first quarter valued at $28,000. Planned Solutions Inc. acquired a new stake in RTX during the 4th quarter valued at $30,000. Finally, Financial Gravity Asset Management Inc. lifted its holdings in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

RTX stock opened at $100.83 on Wednesday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $93.96 and its two-hundred day moving average price is $86.03. The stock has a market cap of $134.07 billion, a PE ratio of 45.01, a P/E/G ratio of 1.82 and a beta of 0.88.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 105.36%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RTX shares. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and raised their price target for the company from $78.00 to $100.00 in a report on Thursday, January 25th. UBS Group raised their price target on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 target price on shares of RTX in a report on Monday, April 1st. Finally, Barclays lifted their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.44.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction 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 SEC, which is accessible through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred 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 transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

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.