Hsbc Holdings PLC Sells 35,637 Shares of RTX Co. (NYSE:RTX)

Hsbc Holdings PLC trimmed its position in RTX Co. (NYSE:RTX - Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,372,445 shares of the company's stock after selling 35,637 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of RTX worth $274,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. boosted its position in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after buying an additional 79 shares during the period. Fusion Capital LLC boosted its position in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc grew its stake in shares of RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. grew its stake in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after acquiring an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC raised its holdings in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after purchasing an additional 81 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company's stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and boosted their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and increased their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, RTX has a consensus rating of "Buy" and a consensus target price of $163.53.

RTX Stock Performance

Shares of RTX stock traded up $6.75 during trading hours on Wednesday, hitting $120.50. 10,455,293 shares of the company were exchanged, compared to its average volume of 5,513,516. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $128.29 and a 200 day simple moving average of $123.75. The stock has a market capitalization of $160.88 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX's payout ratio is currently 70.99%.

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.