Principal Financial Group Inc. Sells 81,489 Shares of RTX Co. (NYSE:RTX)

Principal Financial Group Inc. cut its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,819,847 shares of the company's stock after selling 81,489 shares during the quarter. Principal Financial Group Inc. owned 0.14% of RTX worth $210,593,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter worth about $29,000. Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth about $41,000. Modus Advisors LLC acquired a new stake in RTX during the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX during the 4th quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock worth $43,000 after purchasing an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RTX shares. UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com lowered RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Royal Bank of Canada boosted their target price on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and increased their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Barclays boosted their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus target price of $163.07.

RTX Stock Performance

Shares of NYSE RTX traded down $1.88 during mid-day trading on Friday, hitting $123.23. The company had a trading volume of 4,845,158 shares, compared to its average volume of 4,781,505. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business's 50-day simple moving average is $121.49 and its 200-day simple moving average is $120.89. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The firm has a market cap of $164.16 billion, a P/E ratio of 34.71, a PEG ratio of 2.12 and a beta of 0.82.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX's payout ratio is presently 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company's stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

RTX Company 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.