The Manufacturers Life Insurance Company Sells 43,494 Shares of RTX Co. (NYSE:RTX)

The Manufacturers Life Insurance Company cut its holdings in shares of RTX Co. (NYSE:RTX) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,325,298 shares of the company’s stock after selling 43,494 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of RTX worth $160,573,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RTX. Tidal Investments LLC boosted its holdings in shares of RTX by 58.9% during the 1st quarter. Tidal Investments LLC now owns 40,425 shares of the company’s stock worth $3,943,000 after buying an additional 14,991 shares during the period. iA Global Asset Management Inc. grew its position in shares of RTX by 3.9% in the first quarter. iA Global Asset Management Inc. now owns 10,997 shares of the company’s stock valued at $1,073,000 after purchasing an additional 414 shares during the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of RTX by 10.8% during the first quarter. Strategic Wealth Partners Ltd. now owns 86,450 shares of the company’s stock worth $8,431,000 after purchasing an additional 8,416 shares during the period. LRI Investments LLC acquired a new stake in RTX during the 1st quarter worth approximately $6,574,000. Finally, Sanibel Captiva Trust Company Inc. boosted its stake in RTX by 2.8% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 119,346 shares of the company’s stock valued at $11,640,000 after purchasing an additional 3,306 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RTX shares. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Citigroup increased their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Trading Up 1.7 %

RTX opened at $120.62 on Wednesday. The company’s 50 day moving average is $122.16 and its 200-day moving average is $114.26. The company has a market cap of $160.55 billion, a P/E ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 1-year low of $79.13 and a 1-year high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 72.00%.

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.