Azimuth Capital Investment Management LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Azimuth Capital Investment Management LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,352 shares of the company’s stock after selling 7,020 shares during the period. Azimuth Capital Investment Management LLC’s holdings in RTX were worth $5,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors boosted its position in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after buying an additional 256,215 shares during the period. Finally, Sanders Capital LLC lifted its position in shares of RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RTX shares. Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Citigroup lifted their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays boosted their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna boosted their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, TD Cowen boosted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.33.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s 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 $13,166,366.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,937 shares of company stock worth $12,256,952. Company insiders own 0.13% of the company’s stock.

RTX Stock Down 0.1 %

Shares of RTX stock traded down $0.10 on Friday, reaching $108.08. 3,526,487 shares of the company were exchanged, compared to its average volume of 7,586,222. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The company has a market capitalization of $143.69 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 1.90 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $103.09 and a 200 day moving average of $92.87.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.