Corebridge Financial Inc. Decreases Stake in RTX Co. (NYSE:RTX)

Corebridge Financial Inc. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 318,541 shares of the company’s stock after selling 1,837 shares during the quarter. Corebridge Financial Inc.’s holdings in RTX were worth $36,862,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Fairway Wealth LLC acquired a new position in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $39,000. Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Trading Down 1.6 %

Shares of RTX stock opened at $132.35 on Monday. The company has a fifty day simple moving average of $127.15 and a 200-day simple moving average of $122.56. RTX Co. has a 12-month low of $95.27 and a 12-month high of $135.74. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $176.70 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last 90 days. 0.15% of the stock is owned by insiders.

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.