Primecap Management Co. CA Reduces Stock Position in RTX Co. (NYSE:RTX)

Primecap Management Co. CA lowered its position in shares of RTX Co. (NYSE:RTX) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 385,432 shares of the company’s stock after selling 500 shares during the period. Primecap Management Co. CA’s holdings in RTX were worth $44,602,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CX Institutional boosted its position 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 buying an additional 11,706 shares during the period. National Pension Service boosted its position in RTX by 15.1% during the 4th 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 period. LRI Investments LLC boosted its position in RTX by 6.5% during the 3rd 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 period. Czech National Bank boosted its position in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after buying an additional 17,608 shares during the period. Finally, Archer Investment Corp boosted its position in RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $132.57 on Wednesday. RTX Co. has a one year low of $94.03 and a one year high of $135.36. The company’s 50-day moving average is $126.04 and its 200 day moving average is $122.30. The company has a market capitalization of $176.99 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. 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 announced 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%. Sell-side analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Susquehanna upped their price objective 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, Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated 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 trade represents a 35.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % 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 in the last 90 days. 0.13% of the stock is currently owned by insiders.

RTX Company 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.