Invesco LLC Decreases Holdings in RTX Corporation (NYSE:RTX)

Invesco LLC reduced its stake in shares of RTX Corporation (NYSE:RTX) by 20.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,793 shares of the company’s stock after selling 3,652 shares during the period. Invesco LLC’s holdings in RTX were worth $1,827,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in RTX during the fourth quarter worth about $1,745,644,000. GAMMA Investing LLC grew its stake in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after buying an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares during the period. Amundi lifted its position in shares of RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares in the last quarter. Finally, Capital Wealth Planning LLC bought a new position in shares of RTX in the fourth quarter worth $216,340,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.5%

Shares of NYSE:RTX opened at $145.90 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The firm has a market capitalization of $194.92 billion, a P/E ratio of 42.79, a P/E/G ratio of 2.65 and a beta of 0.63. The stock has a 50 day moving average price of $133.77 and a 200-day moving average price of $127.74.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is presently 79.77%.

Wall Street Analyst Weigh In

Several research analysts have commented on RTX shares. Susquehanna reduced their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group boosted their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Royal Bank Of Canada dropped their target price on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus target price of $161.12.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

About RTX

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.