RTX Co. (NYSE:RTX) Position Cut by Klingman & Associates LLC

Klingman & Associates LLC lowered its position in RTX Co. (NYSE:RTX - Free Report) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,060 shares of the company's stock after selling 2,087 shares during the quarter. Klingman & Associates LLC's holdings in RTX were worth $470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter worth about $29,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the 3rd quarter worth approximately $41,000. Modus Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC grew its holdings in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock valued at $43,000 after buying an additional 279 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Down 1.5 %

Shares of NYSE:RTX traded down $1.88 during trading on Friday, reaching $123.23. 4,845,158 shares of the stock were exchanged, compared to its average volume of 4,781,505. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The firm's 50-day moving average price is $121.38 and its 200 day moving average price is $120.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $164.16 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX's dividend payout ratio is currently 70.99%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America upped their price objective on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Morgan Stanley upped their price objective on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.07.

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.