Clearbridge Investments LLC, a notable institutional investor, has reduced its holdings in RTX Co. (NYSE:RTX) by 3.0% during the first quarter of this year. According to the company’s latest filing with the Securities & Exchange Commission, Clearbridge Investments LLC now owns 16,707,226 shares of RTX stock after selling 523,764 shares during this period. Currently, RTX represents approximately 1.6% of Clearbridge Investments LLC’s total holdings, positioning it as their seventh largest holding. Consequently, as per its most recent SEC filing, Clearbridge Investments LLC owned about 1.14% of RTX valued at $1,636,139,000.
Adding to that development in holding adjustments from Clearbridge Investments LLC is the recent announcement made by RTX regarding a quarterly dividend payment that will be released on Thursday, September 7th. Shareholders on record as of Friday, August 18th will receive a dividend payout of $0.59 per share. This translates to an annualized dividend amounting to $2.36 per share and a yield of 2.74%. It is worth noting that those who have not acquired shares before the ex-dividend date on Thursday, August 17th will not be eligible for this dividend.
With regards to financials and distribution policies held by RTX Co., its current payout ratio stands at approximately 62.60%. This ratio signifies the proportion of earnings paid out as dividends to shareholders rather than being retained for reinvestment or used for other purposes.
These recent developments reflect both Clearbridge Investments LLC’s strategic adjustments within its investment portfolio and RTX Co.’s commitment to returning value to its shareholders through regular dividend payments. As we progress through Q3 and into autumn, it will be interesting to observe any further changes in ownership within RTX and how it may impact the company’s trajectory moving forward.
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RTX Ownership Structure and Analyst Outlook: A Comprehensive Analysis
RTX (NYSE:RTX) has recently caught the attention of several institutional investors, prompting them to make significant changes to their positions in the company. One notable investor, IAG Wealth Partners LLC, acquired a new position in RTX shares during the 1st quarter of this year, valuing it at approximately $27,000. Similarly, Pin Oak Investment Advisors Inc. raised its position in RTX shares by 60.5% during the 4th quarter, now owning 353 shares valued at $36,000. Rebalance LLC and Tanglewood Legacy Advisors LLC also joined in by acquiring new positions in RTX shares during the 4th quarter valued at approximately $36,000 and $41,000 respectively. True Wealth Design LLC entered as well with a new stake in RTX shares during the same period valued at approximately $47,000.
As we delve further into RTX’s ownership structure, we discover that a substantial portion of the stock is owned by institutional investors and hedge funds. In fact, 79.06% of the stock belongs to these investors who manage funds on behalf of others.
Recent reports from research firms shed light on analysts’ outlook for RTX. Royal Bank of Canada lowered their price target for RTX from $110.00 to $105.00 while Citigroup dropped their price target from $113.50 to $95.00 and maintained a “neutral” rating on the stock. Susquehanna also decreased its price target for RTX from $117.00 to $110.00 in their report published on July 26th. Additionally, Robert W. Baird lowered their price target from $115.00 to $100.00 for RTX and Argus changed their rating from “buy” to “hold” on July 31st.
Currently trading at $86.11 per share as of Friday’s trading hours, RTX stocks have a market capitalization of $125.33 billion. With a price-to-earnings ratio of 22.82 and a P/E/G ratio of 2.18, investors are closely monitoring the company’s performance. The beta of RTX stands at 0.97, indicating its sensitivity to market movements.
Looking at the company’s financial health, RTX demonstrates a debt-to-equity ratio of 0.44, suggesting that it has relatively low leverage compared to its equity base. The current ratio is at a healthy level of 1.10, indicating the company’s ability to meet its short-term obligations. Furthermore, the quick ratio stands at 0.81, another positive indicator for the company’s liquidity position.
RTX recently released its quarterly earnings results on July 25th, reporting earnings per share (EPS) of $1.29 for the quarter. This figure surpassed analysts’ consensus estimates by $0.11 per share, signaling strong performance during that period. The company also reported revenue of $18.32 billion for the same quarter, surpassing analyst estimates of $17.68 billion.
With impressive quarterly results and mixed ratings from research firms, RTX is now projected to post earnings per share (EPS) of 5 by the end of the year according to industry analysts.
As we analyze these intricate details surrounding RTX’s ownership structure, stock performance and financial health, investors and analysts alike remain perplexed about how this will impact future outcomes for RTX Co., keeping them eagerly invested in monitoring developments within this industry sector moving forward into September 2023 and beyond.
