Union Bancaire Privee UBP SA Sells 9,482 Shares of RTX Co. (NYSE:RTX)

Union Bancaire Privee UBP SA lessened its holdings in RTX Co. (NYSE:RTX) by 34.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,891 shares of the company’s stock after selling 9,482 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in RTX were worth $2,193,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. National Pension Service raised its position in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after acquiring an additional 375,781 shares during the last quarter. Deutsche Bank AG grew its stake in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after purchasing an additional 936,953 shares during the period. Occudo Quantitative Strategies LP bought a new stake in RTX in the fourth quarter valued at about $3,356,000. Thoroughbred Financial Services LLC lifted its stake in RTX by 43.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock valued at $3,046,000 after buying an additional 7,987 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in RTX by 6.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock worth $65,278,000 after buying an additional 32,024 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $140.92 on Friday. RTX Co. has a 12 month low of $99.07 and a 12 month high of $149.94. The company’s fifty day simple moving average is $130.91 and its 200-day simple moving average is $126.33. The firm has a market cap of $188.26 billion, a PE ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is currently 79.77%.

Analyst Ratings Changes

A number of brokerages have recently commented on RTX. JPMorgan Chase & Co. lowered their price target on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Finally, Royal Bank of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $159.82.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

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.