RTX Co. (NYSE:RTX) Position Decreased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 523,763 shares of the company's stock after selling 13,713 shares during the period. Lord Abbett & CO. LLC's holdings in RTX were worth $60,610,000 as of its most recent SEC filing.

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

RTX Stock Performance

Shares of NYSE:RTX traded up $3.46 during trading on Friday, hitting $125.43. 6,204,846 shares of the company traded hands, compared to its average volume of 5,505,094. The stock has a market capitalization of $167.46 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business's fifty day moving average is $128.31 and its 200-day moving average is $123.75.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is 73.90%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a research note on Wednesday. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a research report on Friday. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada cut their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $161.38.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company's stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

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.