Massachusetts Financial Services Co. MA Sells 559,899 Shares of RTX Co. (NYSE:RTX)

Massachusetts Financial Services Co. MA reduced its holdings in RTX Co. (NYSE:RTX - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,994,141 shares of the company's stock after selling 559,899 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.13% of RTX worth $1,735,122,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional increased its stake in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after acquiring an additional 11,706 shares during the period. National Pension Service increased its position in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after purchasing an additional 375,781 shares during the period. LRI Investments LLC raised its stake in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company's stock worth $9,221,000 after buying an additional 4,732 shares in the last quarter. Czech National Bank lifted its holdings in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company's stock valued at $33,396,000 after buying an additional 17,608 shares during the period. Finally, Archer Investment Corp boosted its stake in RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock valued at $610,000 after buying an additional 4,151 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

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RTX Stock Down 2.3 %

Shares of NYSE:RTX traded down $3.01 during trading on Thursday, reaching $130.14. 4,598,452 shares of the company traded hands, compared to its average volume of 5,611,506. RTX Co. has a 1-year low of $97.03 and a 1-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 firm has a market cap of $173.75 billion, a P/E ratio of 36.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm has a fifty day simple moving average of $129.13 and a 200 day simple moving average of $123.31.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.94%. RTX's dividend payout ratio is currently 70.99%.

Analyst Ratings Changes

Several equities research analysts have commented on RTX shares. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased 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. Finally, UBS Group upgraded RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $166.40.

Insider Buying and Selling at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company'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 sale, 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 disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. 0.15% of the stock is currently owned by insiders.

RTX 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.