Comerica Bank Sells 24,684 Shares of RTX Co. (NYSE:RTX)

Comerica Bank trimmed its position in RTX Co. (NYSE:RTX) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 747,778 shares of the company’s stock after selling 24,684 shares during the period. Comerica Bank owned 0.06% of RTX worth $86,533,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new position in RTX in the 4th quarter worth approximately $103,000. Voleon Capital Management LP purchased a new position in RTX during the 4th quarter valued at about $227,000. Schonfeld Strategic Advisors LLC boosted its position in shares of RTX by 271.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 147,234 shares of the company’s stock worth $17,038,000 after purchasing an additional 107,581 shares in the last quarter. Ion Asset Management Ltd. grew its stake in shares of RTX by 7.4% in the fourth quarter. Ion Asset Management Ltd. now owns 7,880 shares of the company’s stock worth $912,000 after acquiring an additional 542 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in RTX by 181.4% in the fourth quarter. AQR Capital Management LLC now owns 1,569,733 shares of the company’s stock worth $181,571,000 after buying an additional 1,011,816 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $125.82 on Wednesday. The firm’s 50 day simple moving average is $128.32 and its 200-day simple moving average is $123.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The firm has a market cap of $168.08 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

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

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is currently 73.90%.

Insider Buying and Selling at RTX

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

Analyst Ratings Changes

Several equities research analysts recently commented on RTX shares. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $161.06.

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.