RTX Co. (NYSE:RTX) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,397,896 shares of the company's stock after selling 328,365 shares during the quarter. RTX accounts for about 0.9% of Clearbridge Investments LLC's holdings, making the stock its 14th biggest holding. Clearbridge Investments LLC owned approximately 0.71% of RTX worth $1,087,525,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. RWA Wealth Partners LLC increased its position in RTX by 0.6% during the 4th quarter. RWA Wealth Partners LLC now owns 227,769 shares of the company's stock valued at $26,357,000 after purchasing an additional 1,371 shares during the period. Schroder Investment Management Group lifted its position in shares of RTX by 195.0% during the fourth quarter. Schroder Investment Management Group now owns 637,058 shares of the company's stock valued at $73,402,000 after purchasing an additional 421,137 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of RTX by 51.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company's stock worth $30,327,000 after buying an additional 88,604 shares during the last quarter. Allianz SE purchased a new position in shares of RTX in the 4th quarter worth about $5,844,000. Finally, Mechanics Financial Corp increased its stake in shares of RTX by 360.0% during the 4th quarter. Mechanics Financial Corp now owns 6,210 shares of the company's stock worth $719,000 after purchasing an additional 4,860 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Morgan Stanley boosted their target price on RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and lifted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and a consensus target price of $166.40.

RTX Trading Up 0.6 %

Shares of RTX stock traded up $0.84 during trading hours on Monday, reaching $132.56. 5,519,690 shares of the stock were exchanged, compared to its average volume of 5,647,833. 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 company's 50-day moving average price is $128.59 and its 200-day moving average price is $123.06. RTX Co. has a 12-month low of $97.03 and a 12-month high of $136.17. The firm has a market capitalization of $176.97 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results 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 year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. RTX's payout ratio is currently 70.99%.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business'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 in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. 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. Company insiders own 0.15% of the company's stock.

About RTX

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.