IFM Investors Pty Ltd Sells 6,611 Shares of RTX Co. (NYSE:RTX)

IFM Investors Pty Ltd trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,552 shares of the company’s stock after selling 6,611 shares during the period. IFM Investors Pty Ltd’s holdings in RTX were worth $15,939,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter worth about $30,837,000. Capital Advisors Ltd. LLC lifted its stake in RTX by 7.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after acquiring an additional 98,248 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after buying an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new position in shares of RTX during the second quarter worth $602,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,856 shares of company stock valued at $17,131,253. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Susquehanna increased their target price on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, RTX has a consensus rating of “Hold” and a consensus target price of $168.56.

RTX Price Performance

Shares of RTX stock opened at $125.18 on Friday. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The stock has a market cap of $166.52 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.21 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $121.59 and its 200 day moving average is $111.12.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts expect that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

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.