Asahi Life Asset Management CO. LTD. Sells 130 Shares of RTX Co. (NYSE:RTX)

Asahi Life Asset Management CO. LTD. reduced its position in RTX Co. (NYSE:RTX) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,520 shares of the company’s stock after selling 130 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in RTX were worth $669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors grew its holdings in RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC grew its holdings in RTX by 2.0% during the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc grew its holdings in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after buying an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE:RTX traded down $0.05 during mid-day trading on Monday, reaching $125.11. The stock had a trading volume of 625,525 shares, compared to its average volume of 6,722,852. The firm has a 50 day moving average price of $121.74 and a two-hundred day moving average price of $111.42. The stock has a market capitalization of $166.52 billion, a P/E ratio of 35.75, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a one year low of $77.76 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released 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. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, analysts expect that RTX Co. will post 5.57 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s payout ratio is currently 72.00%.

Insider Buying and Selling at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RTX. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Finally, Susquehanna boosted their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $175.27.

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.