RTX Co. (NYSE:RTX) Shares Sold by Park Place Capital Corp

Park Place Capital Corp trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,757 shares of the company’s stock after selling 2,042 shares during the quarter. Park Place Capital Corp’s holdings in RTX were worth $1,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors grew its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares in the last quarter. Capital International Investors grew its position in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position 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 in the last quarter. Clearbridge Investments LLC grew its position in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after acquiring an additional 213,331 shares in the last quarter. Finally, Sanders Capital LLC grew its position in RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after acquiring an additional 677,520 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,213 shares of company stock worth $22,963,593. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RTX shares. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Susquehanna boosted their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. TD Cowen boosted their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $153.47.

RTX Stock Performance

NYSE RTX traded down $0.30 on Friday, reaching $116.44. The stock had a trading volume of 4,578,404 shares, compared to its average volume of 6,574,825. 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 12-month low of $68.56 and a 12-month high of $118.30. The business’s 50-day moving average price is $105.54 and its 200 day moving average price is $99.47. The stock has a market cap of $154.89 billion, a P/E ratio of 45.66, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last issued 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that RTX Co. will post 5.44 earnings per share for the current year.

RTX Announces Dividend

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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

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.