Gateway Investment Advisers LLC Has $67.12 Million Stake in RTX Co. (NYSE:RTX)

by · The Markets Daily

Gateway Investment Advisers LLC lowered its holdings in RTX Co. (NYSE:RTX – Free Report) by 0.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 553,949 shares of the company’s stock after selling 241 shares during the quarter. RTX comprises approximately 0.7% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 26th largest holding. Gateway Investment Advisers LLC’s holdings in RTX were worth $67,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its position 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 buying an additional 3,761,246 shares during the last quarter. Capital International Investors increased its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Marshall Wace LLP lifted its holdings in RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after acquiring an additional 1,901,256 shares during the period. Hsbc Holdings PLC boosted its position in RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after purchasing an additional 792,830 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RTX shares. Royal Bank of Canada lifted their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company lowered their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.50.

Read Our Latest Report on RTX

RTX Price Performance

NYSE RTX traded up $0.99 on Friday, hitting $123.93. The stock had a trading volume of 2,556,167 shares, compared to its average volume of 6,870,438. The firm has a 50-day moving average of $119.86 and a 200-day moving average of $109.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $72.29 and a 52-week high of $125.93. The company has a market capitalization of $164.86 billion, a price-to-earnings ratio of 71.64, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. Equities analysts expect that RTX Co. will post 5.46 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 145.67%.

RTX Profile

(Free Report)

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.

See Also

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