Cannell & Co. Has $10.89 Million Stock Position in RTX Co. (NYSE:RTX)

Cannell & Co. increased its holdings in shares of RTX Co. (NYSE:RTX) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,457 shares of the company’s stock after buying an additional 1,346 shares during the quarter. Cannell & Co.’s holdings in RTX were worth $10,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners bought a new position in shares of RTX during the 3rd quarter valued at about $355,350,000. Van ECK Associates Corp lifted its stake in RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after buying an additional 2,294,908 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 during the period. Sanders Capital LLC increased its position in shares of 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 acquiring an additional 1,682,928 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after acquiring an additional 1,389,143 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was 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 directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated 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 sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold 127,547 shares of company stock valued at $12,553,645 over the last three months. 0.13% of the stock is owned by insiders.

RTX Price Performance

RTX stock traded up $0.31 during mid-day trading on Wednesday, reaching $101.83. 1,111,194 shares of the company were exchanged, compared to its average volume of 8,022,081. The firm has a market cap of $135.38 billion, a PE ratio of 39.81, a PEG ratio of 1.85 and a beta of 0.88. 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 fifty day simple moving average of $95.80 and a 200-day simple moving average of $87.92. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89.

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

RTX Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. RTX’s dividend payout ratio is 92.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RTX shares. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 target price on shares of RTX in a report on Monday, April 1st. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays boosted their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday. Susquehanna raised their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.