RTX Co. (NYSE:RTX) Shares Sold by Earnest Partners LLC

Earnest Partners LLC decreased its position in RTX Co. (NYSE:RTX) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,683 shares of the company’s stock after selling 274 shares during the quarter. Earnest Partners LLC’s holdings in RTX were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Morse Asset Management Inc acquired a new stake in shares of RTX during the third quarter worth $321,000. Tudor Financial Inc. acquired a new stake in shares of RTX during the third quarter worth $797,000. World Investment Advisors LLC raised its position in shares of RTX by 37.1% during the third quarter. World Investment Advisors LLC now owns 40,809 shares of the company’s stock worth $4,944,000 after purchasing an additional 11,033 shares during the period. Sfmg LLC raised its position in shares of RTX by 4.7% during the third quarter. Sfmg LLC now owns 73,978 shares of the company’s stock worth $8,963,000 after purchasing an additional 3,306 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of RTX by 365.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company’s stock worth $13,962,000 after purchasing an additional 90,499 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RTX. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $161.06.

RTX Price Performance

Shares of RTX stock opened at $124.79 on Tuesday. The firm has a fifty day simple moving average of $128.30 and a 200-day simple moving average of $123.75. 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 Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The stock has a market capitalization of $166.71 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. On average, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is 73.90%.

About RTX

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.