RTX Co. (NYSE:RTX) Holdings Cut by Arnhold LLC

Arnhold LLC decreased its holdings in RTX Co. (NYSE:RTX - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,074 shares of the company's stock after selling 14,811 shares during the quarter. RTX comprises approximately 1.8% of Arnhold LLC's portfolio, making the stock its 20th biggest holding. Arnhold LLC's holdings in RTX were worth $18,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of RTX in the fourth quarter valued at $1,745,644,000. T. Rowe Price Investment Management Inc. raised its holdings in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after buying an additional 3,164,844 shares during the period. Amundi boosted its position in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after buying an additional 2,094,834 shares during the period. Finally, Capital Wealth Planning LLC purchased a new stake in shares of RTX during the fourth quarter valued at approximately $216,340,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of NYSE RTX traded down $0.43 during midday trading on Monday, reaching $124.79. The company's stock had a trading volume of 5,460,015 shares, compared to its average volume of 5,504,914. The company has a market cap of $166.61 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth 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 current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $128.31 and a 200 day moving average price of $123.75.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.02%. RTX's dividend payout ratio is currently 73.90%.

Insider Buying and Selling at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RTX has been the topic of several recent analyst reports. Argus upgraded RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $161.06.

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.