Meyer Handelman Co. Sells 3,363 Shares of RTX Co. (NYSE:RTX)

by · The Markets Daily

Meyer Handelman Co. decreased its holdings in RTX Co. (NYSE:RTX – Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 210,005 shares of the company’s stock after selling 3,363 shares during the period. Meyer Handelman Co.’s holdings in RTX were worth $25,444,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RTX. Capital Research Global Investors increased its position in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its stake in shares of RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of RTX by 2.0% during the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after acquiring an additional 213,331 shares in the last quarter. Legal & General Group Plc grew its position in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Trading Up 0.8 %

Shares of NYSE:RTX opened at $123.93 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $164.86 billion, a price-to-earnings ratio of 71.64, a PEG ratio of 2.20 and a beta of 0.82. The stock’s 50-day simple moving average is $119.86 and its two-hundred day simple moving average is $109.40. RTX Co. has a 52-week low of $72.29 and a 52-week high of $125.93.

RTX (NYSE:RTX – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating 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 company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the company earned $1.29 EPS. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts expect that RTX Co. will post 5.46 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%. RTX’s dividend payout ratio is presently 145.67%.

Analyst Ratings Changes

Several analysts have recently weighed in on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $162.50.

Get Our Latest Report on RTX

RTX Company 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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