Cullen Investment Group LTD. Decreases Holdings in RTX Co. (NYSE:RTX)

Cullen Investment Group LTD. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,749 shares of the company’s stock after selling 269 shares during the period. Cullen Investment Group LTD.’s holdings in RTX were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Envestnet Portfolio Solutions Inc. purchased a new stake in RTX during the 3rd quarter worth $5,225,000. Pearl River Capital LLC boosted its position in RTX by 42.2% during the 3rd quarter. Pearl River Capital LLC now owns 28,012 shares of the company’s stock worth $2,016,000 after purchasing an additional 8,311 shares during the period. Aigen Investment Management LP purchased a new stake in RTX during the 3rd quarter worth $1,079,000. Glenview Trust co lifted its holdings in RTX by 4.3% in the 3rd quarter. Glenview Trust co now owns 105,679 shares of the company’s stock worth $7,606,000 after buying an additional 4,312 shares in the last quarter. Finally, CenterBook Partners LP lifted its holdings in RTX by 130.8% in the 3rd quarter. CenterBook Partners LP now owns 34,766 shares of the company’s stock worth $2,502,000 after buying an additional 19,700 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of NYSE:RTX opened at $104.77 on Thursday. 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 Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The firm has a 50-day simple moving average of $104.12 and a 200 day simple moving average of $94.50. The company has a market cap of $139.29 billion, a PE ratio of 41.09, a P/E/G ratio of 1.84 and a beta of 0.83.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that RTX Co. will post 5.39 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 given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Finally, TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two research 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. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’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 completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’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 completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,937 shares of company stock worth $12,256,952. Insiders own 0.13% of the company’s stock.

RTX 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.