Essex LLC Trims Position in RTX Co. (NYSE:RTX)

Essex LLC decreased its stake in RTX Co. (NYSE:RTX) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,465 shares of the company’s stock after selling 2,118 shares during the quarter. Essex LLC’s holdings in RTX were worth $3,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Geode Capital Management LLC grew its holdings in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its position in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares in the last quarter. FMR LLC increased its holdings in RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after acquiring an additional 140,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in RTX by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock valued at $342,886,000 after purchasing an additional 25,407 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RTX. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. UBS Group increased their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley lifted their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Trading Down 0.6 %

Shares of RTX stock opened at $128.07 on Friday. The stock has a 50 day moving average of $119.99 and a 200 day moving average of $120.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market capitalization of $170.60 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43.

RTX (NYSE:RTX) last released its quarterly earnings results 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 return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate 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.