Gabelli Funds LLC Sells 12,600 Shares of RTX Co. (NYSE:RTX)

Gabelli Funds LLC lowered its position in shares of RTX Co. (NYSE:RTX - Free Report) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,144 shares of the company's stock after selling 12,600 shares during the quarter. Gabelli Funds LLC's holdings in RTX were worth $6,150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake in shares of 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 acquiring an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new stake in RTX during the 4th quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new stake in RTX in the fourth quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on RTX. Royal Bank of Canada upped their target price on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and boosted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and an average target price of $165.27.

RTX Stock Down 8.9 %

Shares of RTX traded down $11.28 during mid-day trading on Tuesday, hitting $114.84. 4,859,373 shares of the company's stock were exchanged, compared to its average volume of 5,467,694. The stock has a market cap of $153.32 billion, a price-to-earnings ratio of 32.28, a P/E/G ratio of 2.11 and a beta of 0.58. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.17. The firm has a fifty day moving average of $128.57 and a two-hundred day moving average of $123.84. 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 (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts forecast 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 given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is currently 70.99%.

Insider Buying and Selling at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the business's 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 directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Company insiders own 0.15% 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.