OLD National Bancorp IN Sells 6,854 Shares of RTX Co. (NYSE:RTX)

OLD National Bancorp IN trimmed its holdings in RTX Co. (NYSE:RTX) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,914 shares of the company’s stock after selling 6,854 shares during the quarter. OLD National Bancorp IN’s holdings in RTX were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Northern Trust Corp boosted its position in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Sanders Capital LLC raised its stake in shares of RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of RTX by 9.8% in the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after purchasing an additional 593,305 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.0 %

NYSE RTX opened at $101.59 on Tuesday. The firm has a market cap of $135.08 billion, a P/E ratio of 45.35, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The stock’s 50-day moving average is $94.76 and its 200-day moving average is $86.89. RTX Co. has a one year low of $68.56 and a one year high of $102.63.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the firm posted $1.27 earnings per share. RTX’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is presently 105.36%.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. UBS Group increased their target price on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and raised their price target for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $93.40.

RTX 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.