Wrapmanager Inc. Sells 4,831 Shares of RTX Co. (NYSE:RTX)

Wrapmanager Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 58.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,441 shares of the company’s stock after selling 4,831 shares during the quarter. Wrapmanager Inc.’s holdings in RTX were worth $290,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Northern Trust Corp grew its stake in RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its stake in RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Sanders Capital LLC raised its holdings in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of RTX by 9.8% during the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after buying an additional 593,305 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold 135,618 shares of company stock worth $13,397,978 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Performance

RTX stock traded up $1.79 during mid-day trading on Thursday, reaching $105.73. The company’s stock had a trading volume of 7,210,085 shares, compared to its average volume of 8,055,303. The company has a market capitalization of $140.57 billion, a P/E ratio of 41.46, a PEG ratio of 1.83 and a beta of 0.84. The firm’s fifty day moving average price is $97.80 and its two-hundred day moving average price is $89.33. RTX Co. has a 12-month low of $68.56 and a 12-month high of $105.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. Sell-side analysts predict that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 92.55%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RTX shares. Bank of America raised their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Citigroup raised their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $96.93.

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.