Nations Financial Group Inc. IA ADV Trims Stake in RTX Co. (NYSE:RTX)

Nations Financial Group Inc. IA ADV cut its position in shares of RTX Co. (NYSE:RTX) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,175 shares of the company’s stock after selling 570 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in RTX were worth $620,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in shares of RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors lifted its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Clearbridge Investments LLC grew its holdings in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. Finally, Sanders Capital LLC increased its stake in RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 0.9 %

NYSE:RTX opened at $123.36 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The company’s fifty day moving average price is $110.19 and its 200-day moving average price is $103.20. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The firm has a market capitalization of $164.01 billion, a P/E ratio of 48.38, a PEG ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. As a group, equities research analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s payout ratio is 98.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RTX shares. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna increased their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $153.47.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by corporate 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.