OLD National Bancorp IN Has $2.85 Million Holdings in RTX Co. (NYSE:RTX)

OLD National Bancorp IN lessened its stake in RTX Co. (NYSE:RTX) by 16.8% during the fourth quarter, Holdings Channel reports. The firm owned 33,914 shares of the company’s stock after selling 6,854 shares during the period. OLD National Bancorp IN’s holdings in RTX were worth $2,854,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RTX. Boston Partners bought a new stake in shares of RTX in the third quarter valued at $355,350,000. 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 buying an additional 1,914,184 shares during the period. Van ECK Associates Corp raised its stake in shares of RTX by 8,331.0% in the third quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after buying an additional 1,745,344 shares during the period. 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 buying an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of RTX by 12,753.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RTX shares. UBS Group lifted their price target on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada lifted their price target 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 lifted their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two research 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’s stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price of $93.40.

Insider Activity

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated 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 completion of the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $101.59 on Tuesday. The business’s fifty day simple moving average is $94.76 and its two-hundred day simple moving average is $86.89. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX Co. has a 12 month low of $68.56 and a 12 month high of $102.63. The company has a market cap of $135.08 billion, a price-to-earnings ratio of 45.35, a P/E/G ratio of 1.85 and a beta of 0.88.

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

RTX Dividend Announcement

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

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.