RTX Co. (NYSE:RTX) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,478,273 shares of the company’s stock after selling 581,013 shares during the period. Charles Schwab Investment Management Inc.’s holdings in RTX were worth $871,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Northern Financial Advisors Inc lifted its stake in RTX by 15.8% during the fourth quarter. Northern Financial Advisors Inc now owns 5,374 shares of the company’s stock worth $452,000 after purchasing an additional 734 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in RTX by 17.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,737 shares of the company’s stock worth $1,156,000 after purchasing an additional 2,059 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in RTX by 74.6% in the fourth quarter. Apollon Wealth Management LLC now owns 57,791 shares of the company’s stock valued at $4,863,000 after buying an additional 24,695 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of RTX by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 175,051 shares of the company’s stock valued at $14,730,000 after acquiring an additional 6,149 shares during the period. Finally, Clifford Swan Investment Counsel LLC increased its holdings in shares of RTX by 21.4% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 223,016 shares of the company’s stock valued at $18,765,000 after acquiring an additional 39,243 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, 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 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RTX shares. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. UBS Group upped their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Bank of America upped their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average target price of $96.93.

RTX Price Performance

RTX traded up $0.46 during trading on Wednesday, reaching $103.69. 1,539,281 shares of the stock were exchanged, compared to its average volume of 8,023,186. The business’s 50 day moving average price is $97.20 and its two-hundred day moving average price is $89.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $137.86 billion, a price-to-earnings ratio of 40.48, a P/E/G ratio of 1.83 and a beta of 0.84. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the business earned $1.22 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a $0.63 dividend. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio is currently 92.55%.

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.