Victory Capital Management Inc. Has $82.97 Million Position in RTX Corporation (NYSE:RTX)

Victory Capital Management Inc. cut its position in RTX Corporation (NYSE:RTX) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 626,408 shares of the company’s stock after selling 6,213 shares during the quarter. Victory Capital Management Inc.’s holdings in RTX were worth $82,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of RTX in the fourth quarter valued at $1,745,644,000. GAMMA Investing LLC grew its position in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Invesco Ltd. increased its position in shares of RTX by 17.6% during the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, June 23rd. Finally, Morgan Stanley raised their price target on RTX from $135.00 to $165.00 and gave the company an “equal weight” rating in a report on Thursday. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.28.

RTX Stock Performance

Shares of NYSE RTX opened at $151.70 on Friday. The stock has a 50 day simple moving average of $140.89 and a 200-day simple moving average of $131.23. RTX Corporation has a 12-month low of $102.62 and a 12-month high of $152.04. The company has a market cap of $202.66 billion, a PE ratio of 44.49, a P/E/G ratio of 2.79 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.79%. RTX’s dividend payout ratio is currently 79.77%.

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.