American International Group Inc. Has $30.73 Million Holdings in RTX Co. (NYSE:RTX)

American International Group Inc. trimmed its position in RTX Co. (NYSE:RTX) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,231 shares of the company’s stock after selling 7,630 shares during the quarter. American International Group Inc.’s holdings in RTX were worth $30,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Cibc World Markets Corp lifted its holdings in shares of RTX by 131.0% during the 4th quarter. Cibc World Markets Corp now owns 185,575 shares of the company’s stock worth $15,614,000 after acquiring an additional 105,239 shares during the period. Gabelli Funds LLC boosted its holdings in RTX by 60.7% during the fourth quarter. Gabelli Funds LLC now owns 31,840 shares of the company’s stock valued at $2,679,000 after purchasing an additional 12,025 shares in the last quarter. Per Stirling Capital Management LLC. acquired a new stake in RTX during the fourth quarter valued at approximately $210,000. Oppenheimer & Co. Inc. grew its stake in shares of RTX by 0.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 143,211 shares of the company’s stock valued at $12,050,000 after purchasing an additional 441 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its position in shares of RTX by 6.6% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 60,138 shares of the company’s stock worth $5,060,000 after buying an additional 3,700 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.5 %

Shares of RTX traded up $0.54 on Wednesday, reaching $108.44. 3,121,366 shares of the company’s stock were exchanged, compared to its average volume of 7,658,276. The business has a 50 day moving average price of $102.87 and a two-hundred day moving average price of $92.76. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The stock has a market capitalization of $144.17 billion, a P/E ratio of 42.53, a price-to-earnings-growth ratio of 1.88 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the company earned $1.22 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. Research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s dividend payout ratio is 98.82%.

Insider Buying and Selling

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold 120,042 shares of company stock valued at $12,266,459 in the last 90 days. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their target price on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Susquehanna increased their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $98.33.

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.