Wolff Wiese Magana LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Wolff Wiese Magana LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,351 shares of the company’s stock after selling 391 shares during the quarter. RTX comprises approximately 1.8% of Wolff Wiese Magana LLC’s holdings, making the stock its 15th largest position. Wolff Wiese Magana LLC’s holdings in RTX were worth $2,587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Capital Research Global Investors grew its stake in RTX by 4.2% during the first 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 boosted its holdings in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Marshall Wace LLP grew its position in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the business’s 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 completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. This represents a 0.00 % decrease in their position. 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 ninety days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average price target of $162.50.

RTX Trading Up 0.9 %

NYSE RTX opened at $126.20 on Thursday. The stock has a market cap of $167.88 billion, a PE ratio of 72.95, a PEG ratio of 2.21 and a beta of 0.82. RTX Co. has a 12 month low of $72.48 and a 12 month high of $126.82. The company’s 50-day moving average price is $120.50 and its 200-day moving average price is $110.07. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

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

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.00%. RTX’s payout ratio is currently 145.67%.

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.