Sumitomo Life Insurance Co. Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Sumitomo Life Insurance Co. trimmed its stake in RTX Co. (NYSE:RTX) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,227 shares of the company’s stock after selling 1,030 shares during the period. Sumitomo Life Insurance Co.’s holdings in RTX were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in RTX. Cary Street Partners Investment Advisory LLC lifted its position in RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC acquired a new position in RTX during the 4th quarter valued at approximately $2,438,000. B&D White Capital Company LLC acquired a new position in RTX during the 3rd quarter valued at approximately $14,186,000. Hurlow Wealth Management Group Inc. acquired a new position in RTX during the 4th quarter valued at approximately $206,000. Finally, Cape Cod Five Cents Savings Bank increased its stake in RTX by 23.0% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 27,622 shares of the company’s stock valued at $1,988,000 after purchasing an additional 5,159 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,785 shares of company stock worth $3,448,188. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Barclays increased their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Robert W. Baird raised their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. TD Cowen raised their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada raised their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.44.

RTX Price Performance

Shares of RTX opened at $100.10 on Monday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $104.91. The stock has a market cap of $133.10 billion, a PE ratio of 44.69, a P/E/G ratio of 1.82 and a beta of 0.88. The firm has a 50-day simple moving average of $93.63 and a two-hundred day simple moving average of $85.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. As a group, analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 105.36%.

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.