RTX Co. (NYSE:RTX) Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its stake in shares of RTX Co. (NYSE:RTX) by 14.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,329 shares of the company’s stock after selling 5,409 shares during the quarter. Diversified Trust Co’s holdings in RTX were worth $3,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors lifted its stake in RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its stake in RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after purchasing an additional 11,163,222 shares during the last quarter. Norges Bank bought a new position in RTX during the fourth quarter worth $690,154,000. Massachusetts Financial Services Co. MA lifted its stake in 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 purchasing an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in RTX by 129.9% during the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after purchasing an additional 2,294,908 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RTX shares. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Susquehanna raised their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Citigroup raised their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company raised their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. 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 company. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Price Performance

NYSE:RTX opened at $99.55 on Tuesday. The business’s 50-day moving average price is $104.38 and its 200 day moving average price is $95.78. The firm has a market cap of $132.35 billion, a P/E ratio of 39.04, a PEG ratio of 1.76 and a beta of 0.82. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. 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 (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm 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%. RTX’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.53%. RTX’s dividend payout ratio is currently 98.82%.

Insider Buying and Selling

In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX 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 transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX 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 transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of RTX 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 in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by corporate insiders.

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.