RTX Co. (NYSE:RTX) Stake Reduced by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC trimmed its stake in RTX Co. (NYSE:RTX) by 35.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,483 shares of the company’s stock after selling 5,186 shares during the quarter. Kesler Norman & Wride LLC’s holdings in RTX were worth $1,097,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Citigroup raised shares of 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 note on Tuesday, January 21st. Finally, Bank of America raised their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Performance

RTX opened at $132.85 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $177.36 billion, a PE ratio of 37.42, a P/E/G ratio of 2.11 and a beta of 0.78. The business has a fifty day simple moving average of $128.96 and a 200-day simple moving average of $123.24. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. RTX’s dividend payout ratio (DPR) is presently 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.