Mackenzie Financial Corp Sells 5,409 Shares of RTX Co. (NYSE:RTX)

Mackenzie Financial Corp reduced its holdings in RTX Co. (NYSE:RTX) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 719,733 shares of the company’s stock after selling 5,409 shares during the quarter. Mackenzie Financial Corp’s holdings in RTX were worth $60,558,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Investors Research Corp lifted its stake in shares of RTX by 353.3% in the 4th quarter. Investors Research Corp now owns 6,006 shares of the company’s stock valued at $505,000 after purchasing an additional 4,681 shares during the period. Bison Wealth LLC lifted its stake in shares of RTX by 5.9% in the 4th quarter. Bison Wealth LLC now owns 11,342 shares of the company’s stock valued at $954,000 after purchasing an additional 629 shares during the period. Syntax Research Inc. lifted its stake in shares of RTX by 0.6% in the 4th quarter. Syntax Research Inc. now owns 31,498 shares of the company’s stock valued at $2,650,000 after purchasing an additional 177 shares during the period. London & Capital Asset Management Ltd lifted its stake in shares of RTX by 2.7% in the 4th quarter. London & Capital Asset Management Ltd now owns 426,644 shares of the company’s stock valued at $35,898,000 after purchasing an additional 11,405 shares during the period. Finally, Cullen Investment Group LTD. purchased a new position in RTX during the fourth quarter valued at $843,000. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on RTX shares. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.44.

RTX Stock Performance

NYSE:RTX opened at $100.83 on Wednesday. The stock has a 50-day simple moving average of $93.96 and a two-hundred day simple moving average of $86.03. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm has a market capitalization of $134.07 billion, a PE ratio of 45.01, a P/E/G ratio of 1.82 and a beta of 0.88.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. Analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s payout ratio is 105.36%.

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.