Robeco Institutional Asset Management B.V. Lowers Stock Position in RTX Co. (NYSE:RTX)

Robeco Institutional Asset Management B.V. decreased its holdings in RTX Co. (NYSE:RTX) by 85.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,340 shares of the company’s stock after selling 255,490 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in RTX were worth $3,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of RTX by 1.9% in the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after acquiring an additional 60,319 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in RTX by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,218,370 shares of the company’s stock worth $607,355,000 after purchasing an additional 314,769 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.4 %

RTX opened at $105.43 on Wednesday. The company has a market cap of $140.17 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84. RTX Co. has a twelve month low of $68.56 and a twelve month high of $107.82. The company has a 50-day moving average price of $100.19 and a 200 day moving average price of $90.91. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Sell-side analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.39%. RTX’s dividend payout ratio is presently 98.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RTX. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Bank of America raised their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.33.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,042 shares of company stock valued at $12,266,459. Corporate insiders own 0.13% of the company’s stock.

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.