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

Charles Schwab Investment Management Inc. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,478,273 shares of the company’s stock after selling 581,013 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.73% of RTX worth $871,500,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jacobsen Capital Management grew its stake in RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after purchasing an additional 114 shares in the last quarter. Diligent Investors LLC grew its stake in RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after purchasing an additional 118 shares in the last quarter. Valley National Advisers Inc. grew its stake in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group grew its stake in RTX by 2.1% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,108 shares of the company’s stock valued at $514,000 after purchasing an additional 128 shares in the last quarter. Finally, Dempze Nancy E lifted its position in shares of RTX by 0.5% in the third quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock worth $2,075,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Bank of America boosted their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Finally, Barclays boosted their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average price target of $96.93.

Insider Buying and Selling at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was 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 in the company, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was 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 owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,618 shares of company stock worth $13,397,978. Insiders own 0.13% of the company’s stock.

RTX Price Performance

NYSE RTX traded up $0.46 during trading hours on Wednesday, reaching $103.69. 1,539,281 shares of the company’s stock were exchanged, compared to its average volume of 8,023,186. The stock has a market cap of $137.86 billion, a PE ratio of 40.48, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The firm has a fifty day moving average of $97.20 and a 200-day moving average of $89.11. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released 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. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 EPS. On average, equities research analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.43%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is presently 92.55%.

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.