Osaic Holdings Inc. Sells 99,476 Shares of RTX Co. (NYSE:RTX)

Osaic Holdings Inc. cut its holdings in RTX Co. (NYSE:RTX) by 15.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 554,452 shares of the company’s stock after selling 99,476 shares during the quarter. Osaic Holdings Inc.’s holdings in RTX were worth $54,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. Capital Research Global Investors boosted 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 buying an additional 17,351,313 shares during the period. Capital International Investors lifted its position in shares of 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 stake in shares of RTX during the fourth quarter worth $690,154,000. Massachusetts Financial Services Co. MA lifted its position 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 purchasing an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of 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. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on 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 $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on 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 $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 over the last quarter. 0.13% of the stock is currently owned by insiders.

RTX Stock Performance

NYSE:RTX traded up $0.76 during trading hours on Monday, hitting $103.57. 2,020,681 shares of the company were exchanged, compared to its average volume of 7,368,727. The company’s 50 day moving average price is $104.15 and its 200-day moving average price is $97.60. The stock has a market capitalization of $137.70 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.83 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 debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. As a group, research analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders 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 dividend yield of 2.43%. RTX’s payout ratio is 98.82%.

Analyst Upgrades and Downgrades

RTX has been the subject of several research analyst reports. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Bank of America lifted their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Susquehanna lifted their price objective on 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.33.

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.