Voya Investment Management LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Voya Investment Management LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,626 shares of the company’s stock after selling 2,119,182 shares during the quarter. Voya Investment Management LLC’s holdings in RTX were worth $67,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its position in shares of RTX by 4.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 58,428 shares of the company’s stock valued at $6,761,000 after buying an additional 2,334 shares during the last quarter. Burling Wealth Partners LLC bought a new stake in RTX in the 4th quarter valued at $2,926,000. J. Stern & Co. LLP lifted its stake in RTX by 5.6% in the 4th quarter. J. Stern & Co. LLP now owns 333,344 shares of the company’s stock worth $38,575,000 after purchasing an additional 17,670 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in shares of RTX by 3.0% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 6,620 shares of the company’s stock valued at $766,000 after purchasing an additional 190 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its position in shares of RTX by 13.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,457 shares of the company’s stock valued at $1,205,000 after purchasing an additional 1,280 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research report on Wednesday. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup cut their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, RTX currently has an average rating of “Buy” and a consensus price target of $163.53.

RTX Stock Performance

RTX stock opened at $121.99 on Friday. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.17. The firm has a market cap of $162.87 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.11 and a beta of 0.58. The business’s fifty day simple moving average is $128.28 and its two-hundred day simple moving average is $123.73. 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 posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.07%. RTX’s payout ratio is currently 73.90%.

Insider Buying and Selling at RTX

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

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.