Fmr LLC Trims Stock Holdings in RTX Co. (NYSE:RTX)

FMR LLC lessened its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,942,958 shares of the company's stock after selling 159,890 shares during the period. FMR LLC owned about 0.45% of RTX worth $687,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the period. Modus Advisors LLC bought a new stake in RTX during the 4th quarter valued at approximately $39,000. Millstone Evans Group LLC purchased a new position in shares of RTX during the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the 4th quarter worth approximately $40,000. Institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated 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 directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.15% of the company's stock.

RTX Stock Up 0.9 %

Shares of RTX stock traded up $1.17 on Friday, reaching $128.24. The company's stock had a trading volume of 3,654,021 shares, compared to its average volume of 5,504,953. The company has a market capitalization of $171.21 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. The firm's fifty day simple moving average is $128.56 and its two-hundred day simple moving average is $123.62.

RTX (NYSE:RTX - Get Free Report) last issued its 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%. Equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Thursday, January 2nd. Susquehanna upped their target price 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. Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Vertical Research raised shares of RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $164.73.

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.