RTX Co. (NYSE:RTX) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its stake in shares of RTX Co. (NYSE:RTX) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,203 shares of the company’s stock after selling 3,406 shares during the period. TIAA Trust National Association’s holdings in RTX were worth $13,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Douglass Winthrop Advisors LLC raised its position in RTX by 4.2% during the third quarter. Douglass Winthrop Advisors LLC now owns 6,277 shares of the company’s stock worth $761,000 after acquiring an additional 255 shares during the last quarter. DRW Securities LLC lifted its stake in RTX by 212.1% in the 3rd quarter. DRW Securities LLC now owns 11,092 shares of the company’s stock valued at $1,343,000 after buying an additional 7,538 shares in the last quarter. Boston Family Office LLC increased its position in RTX by 18.6% during the third quarter. Boston Family Office LLC now owns 9,199 shares of the company’s stock worth $1,115,000 after buying an additional 1,441 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of RTX in the third quarter worth $211,000. Finally, Diversified LLC lifted its position in shares of RTX by 5.5% in the third quarter. Diversified LLC now owns 2,130 shares of the company’s stock valued at $258,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $135.84 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a one year low of $95.58 and a one year high of $135.94. The stock’s 50 day moving average price is $127.81 and its 200 day moving average price is $122.79. The firm has a market capitalization of $181.36 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RTX shares. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Bank of America increased their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

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.