Brandywine Global Investment Management LLC Sells 57,890 Shares of RTX Co. (NYSE:RTX)

Brandywine Global Investment Management LLC cut its holdings in RTX Co. (NYSE:RTX - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,685 shares of the company's stock after selling 57,890 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of RTX worth $86,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. RWA Wealth Partners LLC increased its position in shares of RTX by 0.6% during the 4th quarter. RWA Wealth Partners LLC now owns 227,769 shares of the company's stock valued at $26,357,000 after purchasing an additional 1,371 shares during the last quarter. Schroder Investment Management Group increased its holdings in RTX by 195.0% during the fourth 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 raised its position in RTX by 51.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company's stock worth $30,327,000 after acquiring an additional 88,604 shares during the period. Allianz SE purchased a new position in RTX in the fourth quarter valued at about $5,844,000. Finally, Mechanics Financial Corp grew its position in shares of RTX by 360.0% during the 4th quarter. Mechanics Financial Corp now owns 6,210 shares of the company's stock valued at $719,000 after acquiring an additional 4,860 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the business's 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 sale, the executive vice president now directly 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. In the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company's stock.

RTX Trading Up 0.6 %

RTX stock traded up $0.84 during trading on Monday, hitting $132.56. 5,519,690 shares of the company traded hands, compared to its average volume of 5,647,833. 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 company has a 50-day moving average of $128.59 and a 200-day moving average of $123.06. The firm has a market capitalization of $176.97 billion, a PE ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 1 year low of $97.03 and a 1 year high of $136.17.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is currently 70.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RTX shares. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a research report on Wednesday, January 29th. Four research 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 company's stock. Based on data from MarketBeat, RTX has an average rating of "Moderate Buy" and an average price target of $166.40.

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.