RTX Co. (NYSE:RTX) Stock Position Lessened by Saratoga Research & Investment Management

Saratoga Research & Investment Management trimmed its stake in shares of RTX Co. (NYSE:RTX) by 22.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,127,118 shares of the company’s stock after selling 331,988 shares during the period. RTX accounts for approximately 6.6% of Saratoga Research & Investment Management’s holdings, making the stock its 4th biggest position. Saratoga Research & Investment Management’s holdings in RTX were worth $130,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional boosted its position in RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the last quarter. National Pension Service boosted its holdings in shares of RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares during the last quarter. LRI Investments LLC increased its holdings in RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the last quarter. Czech National Bank raised its position in RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the period. Finally, Archer Investment Corp boosted its stake in shares of RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RTX shares. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $166.40.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $131.68 on Monday. The firm has a market cap of $175.81 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. The firm has a fifty day moving average price of $128.59 and a 200 day moving average price of $123.06. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

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.