Advisors Asset Management Inc. Has $12.56 Million Stock Holdings in RTX Co. (NYSE:RTX)

Advisors Asset Management Inc. trimmed its stake in shares of RTX Co. (NYSE:RTX) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,553 shares of the company’s stock after selling 17,985 shares during the period. Advisors Asset Management Inc.’s holdings in RTX were worth $12,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional grew its position 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 acquiring an additional 11,706 shares during the period. National Pension Service grew its position in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after acquiring an additional 375,781 shares during the period. LRI Investments LLC grew its position in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management bought a new position in shares of RTX in the 3rd quarter valued at about $1,307,000. Finally, Czech National Bank grew its position in shares of RTX by 6.5% in the 4th 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 during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

NYSE RTX opened at $131.86 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $176.04 billion, a P/E ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 12-month low of $92.35 and a 12-month high of $135.36. The firm has a 50-day moving average price of $125.69 and a two-hundred day moving average price of $122.23.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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 anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Activity

In other 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 value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on RTX. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus price target of $163.40.

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.