Massachusetts Financial Services Co. MA Has $1.74 Billion Holdings in RTX Co. (NYSE:RTX)

Massachusetts Financial Services Co. MA decreased its holdings in shares of RTX Co. (NYSE:RTX) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,994,141 shares of the company’s stock after selling 559,899 shares during the period. Massachusetts Financial Services Co. MA’s holdings in RTX were worth $1,735,122,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RTX. RFG Bristol Wealth Advisors LLC bought a new stake in RTX during the 4th quarter worth about $1,102,000. Meeder Advisory Services Inc. raised its holdings in RTX by 5.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 24,889 shares of the company’s stock worth $2,880,000 after acquiring an additional 1,191 shares in the last quarter. Potomac Fund Management Inc. ADV acquired a new position in RTX during the fourth quarter valued at approximately $497,000. Groupama Asset Managment grew its stake in RTX by 17.6% in the fourth quarter. Groupama Asset Managment now owns 697,407 shares of the company’s stock valued at $80,357,000 after purchasing an additional 104,513 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of RTX by 43.5% during the 4th quarter. Trexquant Investment LP now owns 47,774 shares of the company’s stock worth $5,528,000 after purchasing an additional 14,472 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RTX shares. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Performance

NYSE:RTX opened at $132.85 on Wednesday. The stock has a 50 day simple moving average of $128.96 and a 200 day simple moving average of $123.24. The stock has a market cap of $177.36 billion, a P/E ratio of 37.42, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 1-year low of $97.03 and a 1-year high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

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.