RTX Co. (NYSE:RTX) Position Reduced by Curbstone Financial Management Corp

Curbstone Financial Management Corp cut its position in shares of RTX Co. (NYSE:RTX) by 0.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 27,018 shares of the company’s stock after selling 150 shares during the period. Curbstone Financial Management Corp’s holdings in RTX were worth $3,579,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. National Pension Service increased its holdings in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares during the period. Deutsche Bank AG increased its holdings in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after purchasing an additional 936,953 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of RTX in the 4th quarter valued at about $3,356,000. Thoroughbred Financial Services LLC increased its holdings in shares of RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock valued at $3,046,000 after purchasing an additional 7,987 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of RTX by 6.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock valued at $65,278,000 after purchasing an additional 32,024 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. UBS Group increased their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $159.82.

RTX Stock Down 1.7%

NYSE:RTX opened at $138.52 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $185.06 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. RTX Co. has a twelve month low of $99.07 and a twelve month high of $141.12. The stock’s 50 day moving average price is $129.95 and its two-hundred day moving average price is $126.07.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is presently 79.77%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

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.