Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Mitsubishi UFJ Trust & Banking Corp reduced its position in RTX Co. (NYSE:RTX) by 7.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 762,040 shares of the company’s stock after selling 57,170 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of RTX worth $74,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. acquired a new position in RTX in the 4th quarter worth $30,000. Alaska Permanent Fund Corp bought a new stake in shares of RTX in the 1st quarter worth about $42,000. Tennessee Valley Asset Management Partners bought a new stake in shares of RTX in the 4th quarter worth about $38,000. Finally, Fairman Group LLC bought a new stake in shares of RTX in the 4th quarter worth about $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. 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 ninety days. 0.13% of the stock is currently owned by company insiders.

RTX Price Performance

NYSE:RTX traded down $1.03 during trading hours on Friday, reaching $102.81. 7,229,794 shares of the company were exchanged, compared to its average volume of 6,931,716. The business has a 50 day moving average of $104.15 and a 200 day moving average of $97.52. The company has a market capitalization of $136.69 billion, a P/E ratio of 40.32, a P/E/G ratio of 1.83 and a beta of 0.82. 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 Co. has a 1-year low of $68.56 and a 1-year high of $108.65.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter last year, the business earned $1.22 earnings per share. RTX’s revenue was up 12.1% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America increased their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup boosted their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Finally, Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

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.