Prospector Partners LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Prospector Partners LLC reduced its position in RTX Co. (NYSE:RTX) by 32.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 52,961 shares of the company’s stock after selling 25,411 shares during the quarter. Prospector Partners LLC’s holdings in RTX were worth $6,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

RTX Trading Down 9.8 %

Shares of RTX stock opened at $117.43 on Friday. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The firm’s 50-day simple moving average is $129.05 and its 200-day simple moving average is $123.38. The firm has a market cap of $156.78 billion, a P/E ratio of 33.08, 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.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last quarter. 0.15% of the stock is owned by corporate insiders.

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.