Meeder Asset Management Inc. Sells 28,853 Shares of RTX Co. (NYSE:RTX)

Meeder Asset Management Inc. cut its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 97.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 665 shares of the company's stock after selling 28,853 shares during the quarter. Meeder Asset Management Inc.'s holdings in RTX were worth $77,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management lifted its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of RTX in the 4th quarter worth $39,000. Modus Advisors LLC acquired a new position in shares of RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in RTX during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.3 %

RTX stock traded up $0.45 during mid-day trading on Wednesday, hitting $133.30. The company's stock had a trading volume of 3,349,299 shares, compared to its average volume of 5,615,515. The firm's 50 day moving average is $129.13 and its 200 day moving average is $123.31. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market cap of $177.97 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 52-week low of $97.03 and a 52-week high of $136.17.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is 70.99%.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $166.40.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 81,508 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is 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.