Public Sector Pension Investment Board Sells 67,278 Shares of RTX Corporation (NYSE:RTX)

Public Sector Pension Investment Board cut its holdings in RTX Corporation (NYSE:RTX) by 27.0% in the first quarter, HoldingsChannel reports. The firm owned 181,535 shares of the company’s stock after selling 67,278 shares during the period. Public Sector Pension Investment Board’s holdings in RTX were worth $24,046,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares during the period. Northern Trust Corp boosted its holdings in RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock valued at $1,494,257,000 after acquiring an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in RTX by 43.1% during the fourth 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. Charles Schwab Investment Management Inc. boosted its holdings in RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock valued at $1,371,171,000 after acquiring an additional 104,139 shares during the period. Finally, Invesco Ltd. boosted its holdings in RTX by 1.5% during the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock valued at $1,365,969,000 after acquiring an additional 154,544 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company’s stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,935 shares of company stock valued at $5,938,488 over the last three months. 0.15% of the stock is owned by company insiders.

RTX Price Performance

Shares of RTX stock opened at $154.84 on Tuesday. 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 market capitalization of $207.25 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.85 and a beta of 0.69. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. The firm’s 50-day moving average price is $148.22 and its two-hundred day moving average price is $135.73.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts predict 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. 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 1.8%. RTX’s dividend payout ratio (DPR) is currently 59.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RTX shares. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the company a “market perform” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their target price on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.67.

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.