Sawgrass Asset Management LLC Reduces Position in RTX Co. (NYSE:RTX)

Sawgrass Asset Management LLC decreased its position in RTX Co. (NYSE:RTX) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,591 shares of the company’s stock after selling 1,107 shares during the period. Sawgrass Asset Management LLC’s holdings in RTX were worth $994,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RTX. Avestar Capital LLC boosted its holdings in RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC boosted its holdings in RTX by 3.7% in the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after purchasing an additional 85 shares during the last quarter. Moloney Securities Asset Management LLC boosted its holdings in RTX by 0.7% in the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after purchasing an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its stake in shares of RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

RTX Stock Performance

NYSE:RTX opened at $126.82 on Thursday. 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 stock has a market capitalization of $168.94 billion, a P/E ratio of 35.72, a PEG ratio of 2.17 and a beta of 0.82. The company has a 50 day moving average price of $120.55 and a 200 day moving average price of $120.53. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43.

RTX (NYSE:RTX) last posted its quarterly earnings results 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 research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.99%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Barclays upped their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average target price of $163.07.

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.