First Hawaiian Bank Lowers Stock Position in RTX Co. (NYSE:RTX)

First Hawaiian Bank lessened its holdings in RTX Co. (NYSE:RTX) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,975 shares of the company’s stock after selling 1,003 shares during the quarter. First Hawaiian Bank’s holdings in RTX were worth $7,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in RTX by 23.7% in the 4th 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 raised its holdings in RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Norges Bank acquired a new position in RTX in the 4th quarter valued at $690,154,000. Massachusetts Financial Services Co. MA raised its holdings in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after acquiring an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after acquiring an additional 2,294,908 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.3 %

RTX stock traded down $0.30 during trading on Friday, reaching $116.44. 4,578,404 shares of the company’s stock were exchanged, compared to its average volume of 6,574,825. The company’s 50-day moving average is $105.54 and its two-hundred day moving average is $99.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $68.56 and a 52-week high of $118.30. The firm has a market cap of $154.89 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 EPS. On average, analysts predict that RTX Co. will post 5.44 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. RTX’s payout ratio is currently 98.82%.

Insider Buying and Selling at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. Insiders sold a total of 198,213 shares of company stock valued at $22,963,593 in the last ninety days. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on RTX. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a report on Wednesday. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target of $153.47.

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.