Los Angeles Capital Management LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Los Angeles Capital Management LLC cut its stake in RTX Co. (NYSE:RTX) by 27.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,726 shares of the company’s stock after selling 18,412 shares during the period. Los Angeles Capital Management LLC’s holdings in RTX were worth $4,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased its holdings in RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after buying an additional 28,910 shares during the period. Mather Group LLC. boosted its position in RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Rockline Wealth Management LLC bought a new position in RTX in the fourth quarter worth about $2,438,000. B&D White Capital Company LLC purchased a new stake in shares of RTX during the third quarter valued at about $14,186,000. Finally, PDS Planning Inc acquired a new stake in RTX in the fourth quarter valued at approximately $356,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.5 %

NYSE RTX opened at $101.40 on Monday. RTX Co. has a one year low of $68.56 and a one year high of $103.89. 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 business has a fifty day moving average price of $96.70 and a 200 day moving average price of $88.60. The company has a market cap of $134.81 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last issued its 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 business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is presently 92.55%.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of the business’s 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 approximately $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Gregory Hayes sold 89,762 shares of RTX 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 completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,842 shares of company stock worth $13,603,426. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Susquehanna raised their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. TD Cowen upped their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Bank of America upped their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup boosted their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.