Northern Trust Corp Sells 76,183 Shares of RTX Corporation $RTX

by · The Markets Daily

Northern Trust Corp cut its holdings in shares of RTX Corporation (NYSE:RTX – Free Report) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,836,515 shares of the company’s stock after selling 76,183 shares during the quarter. Northern Trust Corp owned approximately 0.96% of RTX worth $1,700,325,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in RTX in the 1st quarter worth about $26,000. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter valued at about $34,000. Summit Securities Group LLC bought a new position in RTX in the first quarter worth approximately $40,000. Finally, McClarren Financial Advisors Inc. bought a new stake in RTX during the 1st quarter valued at $44,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.7%

Shares of RTX opened at $154.04 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $206.19 billion, a P/E ratio of 33.85, a PEG ratio of 2.84 and a beta of 0.69. The stock’s 50 day moving average is $149.54 and its two-hundred day moving average is $136.53. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79.

RTX (NYSE:RTX – Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during 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%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research report on Monday, July 21st. Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Susquehanna lifted their price objective on RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Finally, Bank of America raised their price objective on shares of RTX from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.67.

Read Our Latest Stock Report on RTX

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock valued at $7,126,389 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

RTX Profile

(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.

See Also

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