Intact Investment Management Inc. Has $11.85 Million Stock Holdings in RTX Co. (NYSE:RTX)

Intact Investment Management Inc. cut its holdings in RTX Co. (NYSE:RTX) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 102,400 shares of the company’s stock after selling 15,500 shares during the quarter. Intact Investment Management Inc.’s holdings in RTX were worth $11,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of RTX by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after buying an additional 151,474 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after buying an additional 549,814 shares in the last quarter. Finally, Amundi increased its position in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of RTX opened at $129.14 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a 50 day simple moving average of $124.78 and a 200 day simple moving average of $122.01. RTX Co. has a 52-week low of $91.05 and a 52-week high of $135.36. The firm has a market capitalization of $172.03 billion, a PE ratio of 36.38, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % 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 14,031 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is owned by insiders.

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.