Capital Group Private Client Services Inc. Trims Holdings in RTX Co. (NYSE:RTX)

Capital Group Private Client Services Inc. lowered its position in shares of RTX Co. (NYSE:RTX) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 540,263 shares of the company’s stock after selling 24,204 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in RTX were worth $62,519,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. lifted its stake in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC lifted its position in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares in the last quarter. McDonough Capital Management Inc boosted its stake in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares during the period. New England Professional Planning Group Inc. grew its position in shares of RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC raised its stake in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s 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 transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RTX. Citigroup dropped their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four equities 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 stock. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $165.27.

RTX Price Performance

NYSE:RTX opened at $128.89 on Friday. The firm has a market capitalization of $172.07 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business has a 50 day simple moving average of $128.59 and a 200-day simple moving average of $123.80. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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 forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 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.