Saratoga Research & Investment Management Sells 331,988 Shares of RTX Co. (NYSE:RTX)

Saratoga Research & Investment Management lowered its holdings in RTX Co. (NYSE:RTX - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,127,118 shares of the company's stock after selling 331,988 shares during the quarter. RTX accounts for about 6.6% of Saratoga Research & Investment Management's holdings, making the stock its 4th biggest position. Saratoga Research & Investment Management owned about 0.08% of RTX worth $130,430,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of RTX by 17.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 530,488 shares of the company's stock worth $61,388,000 after acquiring an additional 78,102 shares during the period. RWA Wealth Partners LLC increased its position in shares of RTX by 0.6% in the fourth quarter. RWA Wealth Partners LLC now owns 227,769 shares of the company's stock valued at $26,357,000 after buying an additional 1,371 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of RTX by 195.0% during the 4th quarter. Schroder Investment Management Group now owns 637,058 shares of the company's stock worth $73,402,000 after buying an additional 421,137 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in RTX by 51.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company's stock valued at $30,327,000 after acquiring an additional 88,604 shares during the last quarter. Finally, Allianz SE purchased a new position in RTX during the 4th quarter valued at about $5,844,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and increased their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. UBS Group raised RTX from a "neutral" rating to a "buy" rating in a research report on Monday, March 24th. Vertical Research upgraded RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Susquehanna increased their price objective on RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted 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. Four equities research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.40.

RTX Trading Up 0.3 %

Shares of NYSE RTX traded up $0.39 during midday trading on Tuesday, hitting $132.85. The stock had a trading volume of 4,798,756 shares, compared to its average volume of 5,644,465. RTX Co. has a 1-year low of $97.03 and a 1-year high of $136.17. The company has a fifty day moving average price of $128.82 and a 200 day moving average price of $123.15. The company has a market capitalization of $177.36 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 2.11 and a beta of 0.78. 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 earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX's payout ratio is 70.99%.

Insider Activity

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company's 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 sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by 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.