Mackenzie Financial Corp Has $89.62 Million Position in RTX Corporation (NYSE:RTX)

Mackenzie Financial Corp raised its position in RTX Corporation (NYSE:RTX) by 3.9% in the first quarter, HoldingsChannel.com reports. The fund owned 676,606 shares of the company’s stock after purchasing an additional 25,685 shares during the quarter. Mackenzie Financial Corp’s holdings in RTX were worth $89,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after buying an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of 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 worth $1,216,063,000 after buying an additional 3,164,844 shares during the last quarter. Invesco Ltd. lifted its stake in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of RTX during the 4th quarter worth about $138,585,000. Finally, National Bank of Canada FI lifted its stake in shares of RTX by 105.4% during the 4th quarter. National Bank of Canada FI now owns 2,195,166 shares of the company’s stock worth $254,025,000 after buying an additional 1,126,678 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. UBS Group raised their target price on shares of RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a “market perform” rating in a research note on Friday, July 11th. Susquehanna lifted their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Finally, Bank of America lifted their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $155.69.

RTX Price Performance

RTX stock opened at $156.06 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $157.33. The firm has a market cap of $208.89 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.89 and a beta of 0.64. The company’s 50-day moving average price is $143.86 and its two-hundred day moving average price is $133.33.

RTX (NYSE:RTX) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.74%. RTX’s dividend payout ratio (DPR) is presently 59.78%.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president directly owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. Company insiders own 0.15% of the company’s stock.

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.