Clearbridge Investments LLC Has $1.09 Billion Holdings in RTX Co. (NYSE:RTX)

Clearbridge Investments LLC cut its holdings in RTX Co. (NYSE:RTX) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,397,896 shares of the company’s stock after selling 328,365 shares during the quarter. RTX makes up 0.9% of Clearbridge Investments LLC’s portfolio, making the stock its 14th largest position. Clearbridge Investments LLC owned 0.71% of RTX worth $1,087,525,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RTX. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of RTX in the 4th quarter worth $39,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter valued at about $40,000. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.15% of the stock is owned by insiders.

RTX Stock Down 1.3 %

NYSE RTX opened at $131.68 on Friday. The business has a fifty day moving average price of $128.59 and a two-hundred day moving average price of $123.03. The stock has a market capitalization of $175.81 billion, a PE ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. 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 current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued 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%. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RTX shares. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

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.