RTX Co. (NYSE:RTX) is Cullen Capital Management LLC’s 7th Largest Position

Cullen Capital Management LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 6.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,989,820 shares of the company’s stock after selling 146,684 shares during the period. RTX comprises approximately 2.6% of Cullen Capital Management LLC’s holdings, making the stock its 7th largest position. Cullen Capital Management LLC owned approximately 0.15% of RTX worth $230,262,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. CX Institutional increased its stake in shares of RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares during the last quarter. National Pension Service increased its position in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares during the last quarter. LRI Investments LLC raised its stake in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Czech National Bank lifted its holdings in shares of 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 last quarter. Finally, Archer Investment Corp grew its stake in shares of RTX by 370.3% in 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 in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. 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. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Trading Down 9.8 %

Shares of RTX stock opened at $117.43 on Friday. The company’s fifty day moving average price is $129.05 and its two-hundred day moving average price is $123.35. The firm has a market capitalization of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. 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, 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%. On average, analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. RTX’s payout ratio is presently 70.99%.

Insider Activity

In related 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 transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX 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 completion of 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. In the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

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.