Principal Financial Group Inc. Sells 81,489 Shares of RTX Co. (NYSE:RTX)

Principal Financial Group Inc. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,819,847 shares of the company’s stock after selling 81,489 shares during the period. Principal Financial Group Inc.’s holdings in RTX were worth $210,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Stratos Wealth Advisors LLC boosted its position in shares of RTX by 4.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 15,150 shares of the company’s stock worth $1,836,000 after purchasing an additional 702 shares in the last quarter. Net Worth Advisory Group bought a new stake in RTX in the third quarter worth $251,000. New Century Financial Group LLC purchased a new stake in shares of RTX in the third quarter worth $211,000. Vest Financial LLC increased its holdings in shares of RTX by 203.6% during the third quarter. Vest Financial LLC now owns 10,940 shares of the company’s stock valued at $1,325,000 after acquiring an additional 7,337 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of RTX by 21.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 530,729 shares of the company’s stock worth $64,303,000 after purchasing an additional 95,096 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group lifted their target price on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Trading Down 2.5 %

Shares of NYSE:RTX opened at $122.68 on Tuesday. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The company has a market cap of $163.42 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The stock has a 50 day moving average of $120.92 and a 200 day moving average of $120.72. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.05%. RTX’s dividend payout ratio is 70.99%.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.