Sumitomo Mitsui Trust Holdings Inc. Sells 30,230 Shares of RTX Co. (NYSE:RTX)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,392,087 shares of the company’s stock after selling 30,230 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of RTX worth $330,830,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares in the last quarter. Capital International Investors raised its stake in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of RTX by 82.7% in the 4th 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 in the last quarter. Sanders Capital LLC increased its holdings in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RTX during the fourth quarter worth $690,154,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RTX shares. Wells Fargo & Company upped their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Barclays boosted their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.33.

RTX Stock Up 0.6 %

Shares of NYSE RTX traded up $0.58 during midday trading on Wednesday, reaching $100.99. The company’s stock had a trading volume of 395,909 shares, compared to its average volume of 7,518,358. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The stock has a 50 day simple moving average of $104.36 and a 200-day simple moving average of $95.92. The stock has a market capitalization of $134.27 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 1.76 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for 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 business posted $1.22 EPS. Equities research analysts predict that RTX Co. will post 5.39 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. Shareholders 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 yield of 2.50%. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Buying and Selling 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 completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now 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 worth $12,256,952 over the last ninety days. 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.