RTX Co. (NYSE:RTX) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its position in RTX Co. (NYSE:RTXFree Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 515,519 shares of the company’s stock after selling 4,919 shares during the quarter. DAVENPORT & Co LLC’s holdings in RTX were worth $43,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RTX. Norges Bank purchased a new stake in shares of RTX in the 4th quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC raised its stake in shares of RTX by 87,932.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the period. Boston Partners purchased a new stake in shares of RTX in the 3rd quarter valued at approximately $355,350,000. Morgan Stanley raised its stake in shares of RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after acquiring an additional 3,104,282 shares during the period. Finally, Capital World Investors raised its stake in shares of RTX by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after acquiring an additional 2,256,475 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.8 %

Shares of NYSE:RTX opened at $98.55 on Wednesday. The stock has a market cap of $131.04 billion, a P/E ratio of 44.00, a P/E/G ratio of 1.78 and a beta of 0.88. The firm has a fifty day moving average price of $92.08 and a 200 day moving average price of $84.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX Co. has a 1-year low of $68.56 and a 1-year high of $104.91.

RTX (NYSE:RTXGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. RTX’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 EPS. Sell-side analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.39%. RTX’s payout ratio is currently 105.36%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The shares were 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 owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 target price (up from $88.00) on shares of RTX in a research note on Tuesday, January 16th. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. UBS Group boosted their price target on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, TD Cowen boosted their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.12.

Read Our Latest Analysis on RTX

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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