Lafayette Investments Inc. Reduces Stock Position in RTX Co. (NYSE:RTX)

Lafayette Investments Inc. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,276 shares of the company’s stock after selling 200 shares during the quarter. Lafayette Investments Inc.’s holdings in RTX were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. CX Institutional boosted its holdings in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after purchasing an additional 11,706 shares during the last quarter. National Pension Service lifted its position in shares of RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares in the last quarter. Czech National Bank grew its stake in shares of RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after acquiring an additional 17,608 shares in the last quarter. Archer Investment Corp increased its holdings in RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares during the last quarter. Finally, Optas LLC increased its position in shares of RTX by 114.5% in the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock worth $817,000 after purchasing an additional 3,770 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.7 %

Shares of NYSE:RTX opened at $129.12 on Tuesday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The firm has a fifty day moving average price of $128.56 and a 200 day moving average price of $123.68. The stock has a market capitalization of $172.39 billion, a PE ratio of 36.37, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RTX. Wells Fargo & Company lowered their price objective on shares of RTX from $156.00 to $136.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup reduced their price objective on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $164.73.

Insider Transactions at RTX

In other 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 sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, 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 have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by company 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.