RTX Co. (NYSE:RTX) Position Cut by Aviva PLC

Aviva PLC lowered its position in shares of RTX Co. (NYSE:RTX) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 802,956 shares of the company’s stock after selling 39,379 shares during the period. Aviva PLC owned 0.06% of RTX worth $92,918,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Morse Asset Management Inc bought a new position in RTX in the 3rd quarter worth approximately $321,000. Redwood Investment Management LLC boosted its position in RTX by 4.0% during the 3rd quarter. Redwood Investment Management LLC now owns 14,519 shares of the company’s stock worth $1,748,000 after acquiring an additional 565 shares during the period. Quarry LP grew its stake in shares of RTX by 197.9% in the third quarter. Quarry LP now owns 846 shares of the company’s stock worth $103,000 after purchasing an additional 562 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of RTX during the third quarter valued at $6,243,000. Finally, Stevens Capital Management LP bought a new stake in shares of RTX during the third quarter valued at about $220,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 9.8 %

Shares of RTX opened at $117.43 on Friday. The business’s 50-day moving average price is $129.05 and its 200 day moving average price is $123.35. 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 stock has a market capitalization of $156.78 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.11 and a beta of 0.58. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. RTX’s payout ratio is currently 70.99%.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last quarter. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

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.