Kennedy Capital Management LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Kennedy Capital Management LLC decreased its position in RTX Co. (NYSE:RTX - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,944 shares of the company's stock after selling 19,667 shares during the quarter. Kennedy Capital Management LLC's holdings in RTX were worth $4,159,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RTX. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of RTX during the fourth quarter worth $39,000. Millstone Evans Group LLC acquired a new position in shares of RTX in the 4th quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the 4th quarter worth about $40,000. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company's stock.

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RTX Price Performance

Shares of NYSE RTX traded down $0.55 during trading hours on Tuesday, reaching $128.59. 6,314,415 shares of the stock traded hands, compared to its average volume of 5,486,108. The company's 50-day simple moving average is $128.56 and its two-hundred day simple moving average is $123.68. 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 company has a market capitalization of $171.68 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in 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. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com lowered shares of RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, Citigroup reduced their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.27.

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.