Chevy Chase Trust Holdings LLC Sells 15,318 Shares of RTX Co. (NYSE:RTX)

Chevy Chase Trust Holdings LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 709,732 shares of the company’s stock after selling 15,318 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of RTX worth $82,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Campbell Wealth Management increased its holdings in RTX by 15.5% in the 4th quarter. Campbell Wealth Management now owns 2,808 shares of the company’s stock worth $325,000 after buying an additional 376 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in RTX by 2.8% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 23,555 shares of the company’s stock worth $2,726,000 after buying an additional 633 shares in the last quarter. Root Financial Partners LLC increased its holdings in RTX by 32.9% in the 4th quarter. Root Financial Partners LLC now owns 5,709 shares of the company’s stock worth $661,000 after buying an additional 1,412 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in RTX by 21.2% in the 4th quarter. Vontobel Holding Ltd. now owns 36,346 shares of the company’s stock worth $4,206,000 after buying an additional 6,350 shares in the last quarter. Finally, Bogart Wealth LLC increased its holdings in RTX by 7.6% in the 4th quarter. Bogart Wealth LLC now owns 2,548 shares of the company’s stock worth $295,000 after buying an additional 180 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Susquehanna raised their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Performance

NYSE:RTX opened at $125.95 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The stock’s 50 day simple moving average is $120.70 and its two-hundred day simple moving average is $120.57. The company has a market cap of $167.78 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’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 transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.