Chevy Chase Trust Holdings LLC Reduces Holdings in RTX Co. (NYSE:RTX)

Chevy Chase Trust Holdings LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 737,636 shares of the company’s stock after selling 8,741 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of RTX worth $74,051,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors grew its holdings in shares of 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 last quarter. Capital International Investors grew its holdings 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 buying an additional 11,163,222 shares during the last quarter. Norges Bank purchased a new position in shares of RTX during the fourth quarter worth about $690,154,000. Massachusetts Financial Services Co. MA grew its holdings 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 buying an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings 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 buying an additional 2,294,908 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’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 completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the business’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 completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded down $0.40 during trading on Tuesday, hitting $117.95. 5,710,162 shares of the company were exchanged, compared to its average volume of 7,286,884. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $118.99. The stock has a market capitalization of $156.90 billion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 2.08 and a beta of 0.82. The firm has a 50 day moving average price of $107.83 and a 200 day moving average price of $101.77.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm 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%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 EPS. On average, equities analysts expect that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.14%. RTX’s payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. TD Cowen raised their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Barclays lifted their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $153.47.

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.