RTX Co. (NYSE:RTX) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 126,143 shares of the company’s stock after selling 1,242 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in RTX were worth $14,597,000 at the end of the most recent quarter.

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

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. 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, StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

RTX opened at $122.68 on Tuesday. The firm has a market cap of $163.42 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $120.92 and its 200 day moving average price is $120.72. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

RTX 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.