OVERSEA CHINESE BANKING Corp Ltd Increases Holdings in RTX Corporation (NYSE:RTX)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of RTX Corporation (NYSE:RTX) by 53.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,185 shares of the company’s stock after buying an additional 1,113 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in RTX were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RTX. Brighton Jones LLC lifted its holdings in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of RTX by 2.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,876 shares of the company’s stock valued at $1,143,000 after purchasing an additional 258 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of RTX by 1.0% in the 4th quarter. Russell Investments Group Ltd. now owns 841,811 shares of the company’s stock valued at $97,411,000 after purchasing an additional 8,492 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of RTX by 9.7% in the 4th quarter. Quadrant Capital Group LLC now owns 17,254 shares of the company’s stock valued at $1,997,000 after purchasing an additional 1,527 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Barclays boosted their price target on RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research report on Monday, July 21st. Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Morgan Stanley boosted their target price on RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.67.

RTX Stock Down 0.4%

Shares of NYSE RTX opened at $156.92 on Monday. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The company has a market cap of $210.04 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.89 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $145.69 and a 200 day moving average price of $134.40.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX’s dividend payout ratio is presently 59.78%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated 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 transaction, the vice president directly owned 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. Insiders have sold 31,234 shares of company stock valued at $4,439,755 over the last ninety days. 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.