Oak Asset Management LLC Reduces Position in RTX Co. (NYSE:RTX)

Oak Asset Management LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 10.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,852 shares of the company’s stock after selling 9,444 shares during the period. RTX accounts for about 2.8% of Oak Asset Management LLC’s investment portfolio, making the stock its 8th largest holding. Oak Asset Management LLC’s holdings in RTX were worth $7,495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in shares of 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 increased its holdings 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 buying an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of RTX by 82.7% in 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 buying an additional 6,932,011 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after buying an additional 677,520 shares in the last quarter. Finally, Norges Bank bought a new position in shares of RTX in the fourth quarter valued at $690,154,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

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 transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated 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 $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Down 0.2 %

Shares of RTX opened at $100.39 on Monday. The company has a 50-day simple moving average of $104.42 and a 200-day simple moving average of $95.65. The firm has a market capitalization of $133.47 billion, a P/E ratio of 39.37, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS 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 analyst estimates of $18.44 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analyst Ratings Changes

Several research firms have weighed in on RTX. Wells Fargo & Company lifted their price objective 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 lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.