American International Group Inc. Decreases Holdings in RTX Co. (NYSE:RTX)

American International Group Inc. trimmed its stake in RTX Co. (NYSE:RTXFree Report) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 365,231 shares of the company’s stock after selling 7,630 shares during the period. American International Group Inc.’s holdings in RTX were worth $30,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. Bear Mountain Capital Inc. bought a new stake in shares of RTX in the fourth quarter valued at $25,000. Planned Solutions Inc. bought a new position in RTX during the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the 4th quarter valued at approximately $38,000. Finally, Valley National Advisers Inc. boosted its holdings in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.8 %

RTX stock traded down $0.80 during mid-day trading on Friday, hitting $104.23. The company’s stock had a trading volume of 4,917,244 shares, compared to its average volume of 5,096,944. The business has a 50 day moving average price of $104.00 and a 200-day moving average price of $93.99. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The stock has a market cap of $138.57 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTXGet Free Report) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the prior year, the business posted $1.22 EPS. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.42%. RTX’s payout ratio is currently 98.82%.

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 in the last quarter. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on RTX. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Bank of America raised their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Citigroup upped their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $98.33.

Read Our Latest Stock Analysis on RTX

About RTX

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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