Dillon & Associates Inc. Reduces Position in RTX Co. (NYSE:RTX)

Dillon & Associates Inc. trimmed its stake in RTX Co. (NYSE:RTX) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,895 shares of the company’s stock after selling 1,110 shares during the period. Dillon & Associates Inc.’s holdings in RTX were worth $4,396,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Crowley Wealth Management Inc. purchased a new position in shares of RTX in the 4th quarter valued at $1,059,000. Vanguard Group Inc. lifted its stake in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares during the period. Napatree Capital LLC lifted its stake in shares of RTX by 2.9% in the 4th quarter. Napatree Capital LLC now owns 8,451 shares of the company’s stock worth $978,000 after acquiring an additional 235 shares during the period. Mosley Wealth Management lifted its stake in shares of RTX by 13.4% in the 4th quarter. Mosley Wealth Management now owns 2,585 shares of the company’s stock worth $323,000 after acquiring an additional 305 shares during the period. Finally, Guardian Partners Inc. acquired a new stake in shares of RTX in the 4th quarter worth $6,404,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RTX. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Four 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 currently has an average rating of “Moderate Buy” and an average price target of $166.40.

Insider Buying and Selling

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 stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

RTX Trading Down 1.6 %

NYSE RTX opened at $132.35 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $127.15 and its 200-day simple moving average is $122.56. The stock has a market cap of $176.70 billion, a P/E ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 52 week low of $95.27 and a 52 week high of $135.74.

RTX (NYSE:RTX) last released 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 predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.