Advisory Services Network LLC Sells 8,488 Shares of RTX Co. (NYSE:RTX)

Advisory Services Network LLC trimmed its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,110 shares of the company's stock after selling 8,488 shares during the quarter. Advisory Services Network LLC's holdings in RTX were worth $9,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CX Institutional raised its holdings in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company's stock worth $7,539,000 after purchasing an additional 11,706 shares during the period. National Pension Service grew its position in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares during the last quarter. LRI Investments LLC lifted its holdings in RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company's stock worth $9,221,000 after acquiring an additional 4,732 shares during the last quarter. Czech National Bank boosted its stake in RTX by 6.5% in the fourth 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. Finally, Archer Investment Corp raised its position in shares of RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company's stock worth $610,000 after purchasing an additional 4,151 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Trading Up 0.9 %

RTX stock traded up $1.17 during midday trading on Friday, reaching $128.24. The stock had a trading volume of 3,654,021 shares, compared to its average volume of 5,512,213. The firm's fifty day simple moving average is $128.56 and its two-hundred day simple moving average is $123.59. 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 twelve month low of $99.07 and a twelve month high of $136.17. The firm has a market cap of $171.21 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. RTX's dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company's stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Vertical Research upgraded RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and increased their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna boosted their target price on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $164.73.

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.