Corebridge Financial Inc. Cuts Position in RTX Co. (NYSE:RTX)

Corebridge Financial Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 318,541 shares of the company’s stock after selling 1,837 shares during the period. Corebridge Financial Inc.’s holdings in RTX were worth $36,862,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. CX Institutional increased its holdings in RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after buying an additional 11,706 shares in the last quarter. National Pension Service increased its stake in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares in the last quarter. LRI Investments LLC raised its holdings in RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Czech National Bank boosted its position in RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after purchasing an additional 4,151 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of several recent research reports. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

RTX opened at $132.35 on Monday. RTX Co. has a 1 year low of $95.27 and a 1 year high of $135.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company’s 50 day simple moving average is $127.15 and its 200 day simple moving average is $122.56. The stock has a market capitalization of $176.70 billion, a PE ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by company 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.