Cary Street Partners Asset Management LLC Has $2.30 Million Stake in RTX Co. (NYSE:RTX)

Cary Street Partners Asset Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,369 shares of the company’s stock after selling 2,585 shares during the period. Cary Street Partners Asset Management LLC’s holdings in RTX were worth $2,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after purchasing an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after acquiring an additional 60,319 shares during the last quarter. Sanders Capital LLC boosted its holdings in RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after acquiring an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in 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 acquiring an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in RTX by 9.8% in the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after acquiring an additional 593,305 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,547 shares of company stock worth $12,553,645. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.2 %

Shares of RTX stock traded up $0.21 during mid-day trading on Wednesday, hitting $101.73. The company’s stock had a trading volume of 1,009,160 shares, compared to its average volume of 8,021,125. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The business has a 50-day moving average price of $95.80 and a 200 day moving average price of $87.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market cap of $135.25 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays increased their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.93.

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.