Korea Investment CORP Sells 63,937 Shares of RTX Corporation $RTX

by · The Markets Daily

Korea Investment CORP cut its holdings in RTX Corporation (NYSE:RTX – Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,040,072 shares of the company’s stock after selling 63,937 shares during the quarter. Korea Investment CORP owned about 0.08% of RTX worth $137,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC bought a new position in RTX in the first quarter valued at approximately $26,000. 10Elms LLP bought a new position in shares of RTX during the fourth quarter worth $29,000. Greenline Partners LLC bought a new position in shares of RTX during the fourth quarter worth $34,000. Summit Securities Group LLC bought a new position in shares of RTX during the first quarter worth $40,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of RTX during the fourth quarter worth $43,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RTX shares. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a “market perform” rating in a research report on Friday, July 11th. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Susquehanna raised their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Finally, DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.67.

Get Our Latest Stock Report on RTX

Insider Buying and Selling at RTX

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company’s stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company’s stock, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock worth $7,126,389 in the last ninety days. Insiders own 0.15% of the company’s stock.

RTX Stock Down 0.7%

RTX stock opened at $154.04 on Monday. The firm has a market capitalization of $206.19 billion, a PE ratio of 33.85, a P/E/G ratio of 2.84 and a beta of 0.69. The company’s 50-day moving average is $149.54 and its 200-day moving average is $136.53. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX’s payout ratio is 59.78%.

About RTX

(Free Report)

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.

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