Ostrum Asset Management Cuts Position in RTX Co. (NYSE:RTX)

Ostrum Asset Management reduced its stake in shares of RTX Co. (NYSE:RTX) by 3.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,170 shares of the company’s stock after selling 1,480 shares during the period. Ostrum Asset Management’s holdings in RTX were worth $4,880,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RTX. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Wells Fargo & Company upped 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, April 15th. Citigroup dropped their price objective on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.27.

RTX Price Performance

RTX stock opened at $128.89 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market cap of $172.07 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The firm has a 50 day moving average price of $128.59 and a 200 day moving average price of $123.83.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insider Activity at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

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.