Connor Clark & Lunn Investment Management Ltd. Sells 162,542 Shares of RTX Corporation (NYSE:RTX)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in RTX Corporation (NYSE:RTX) by 79.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,623 shares of the company’s stock after selling 162,542 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in RTX were worth $5,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. Northern Trust Corp boosted its stake in RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in RTX by 43.1% in 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 purchasing an additional 3,164,844 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of RTX by 1.0% during the 1st 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of RTX by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,647,638 shares of the company’s stock valued at $884,958,000 after acquiring an additional 203,173 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $155.54 on Wednesday. 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 fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock has a 50 day moving average price of $148.58 and a two-hundred day moving average price of $135.87. The company has a market capitalization of $208.20 billion, a P/E ratio of 34.18, a PEG ratio of 2.85 and a beta of 0.69.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share 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 quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX’s payout ratio is currently 59.78%.

Wall Street Analyst Weigh In

RTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Sanford C. Bernstein set a $154.00 price target on RTX and gave the company a “market perform” rating in a research report on Friday, July 11th. Bank of America lifted their price target on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Barclays lifted 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. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.67.

Insider Buying and Selling

In related news, insider Philip J. Jasper sold 12,847 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares of the company’s stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,935 shares of company stock worth $5,938,488. Company insiders own 0.15% of the company’s stock.

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.