Van ECK Associates Corp Sells 407,609 Shares of RTX Co. (NYSE:RTX)

Van ECK Associates Corp lowered its holdings in shares of RTX Co. (NYSE:RTX) by 9.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,828,282 shares of the company’s stock after selling 407,609 shares during the period. Van ECK Associates Corp’s holdings in RTX were worth $384,321,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Research Global Investors grew its holdings in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors boosted its holdings in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after acquiring an additional 213,331 shares during the period. Finally, Sanders Capital LLC boosted its holdings in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after acquiring an additional 677,520 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.9 %

RTX traded up $1.05 during trading on Friday, reaching $123.34. 6,371,993 shares of the stock traded hands, compared to its average volume of 5,312,287. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $164.07 billion, a PE ratio of 48.37, a P/E/G ratio of 2.17 and a beta of 0.82. The stock’s 50-day moving average is $110.19 and its 200 day moving average is $103.29. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. Equities analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RTX shares. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $153.47.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. Insiders own 0.13% of the company’s stock.

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.