RTX Corporation (NYSE:RTX) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC decreased its stake in RTX Corporation (NYSE:RTX) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,259 shares of the company’s stock after selling 4,929 shares during the period. Cambiar Investors LLC’s holdings in RTX were worth $29,705,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RTX. Nuveen LLC bought a new stake in shares of RTX in the 1st quarter worth approximately $916,739,000. GAMMA Investing LLC lifted its holdings in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after purchasing an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in RTX by 1.1% during the 1st 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 in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of several recent analyst reports. Bank of America lifted their target price on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group lifted their target price on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, June 23rd. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.67.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock valued at $7,126,389 in the last ninety days. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $154.04 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $206.19 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.84 and a beta of 0.69. The stock’s fifty day simple moving average is $149.54 and its 200 day simple moving average is $136.47. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. As a group, sell-side analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX’s dividend payout ratio is 59.78%.

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.