Azimuth Capital Investment Management LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Azimuth Capital Investment Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,175 shares of the company’s stock after selling 668 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in RTX were worth $6,269,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Tandem Investment Partners LLC purchased a new position in RTX in the fourth quarter worth $285,000. German American Bancorp Inc. lifted its position in RTX by 1.9% during the fourth quarter. German American Bancorp Inc. now owns 29,890 shares of the company’s stock valued at $3,459,000 after purchasing an additional 548 shares during the period. Bank of Nova Scotia lifted its position in RTX by 198.1% during the fourth quarter. Bank of Nova Scotia now owns 1,147,094 shares of the company’s stock valued at $132,742,000 after purchasing an additional 762,308 shares during the period. Shelton Capital Management increased its holdings in RTX by 14.6% in the fourth quarter. Shelton Capital Management now owns 174,305 shares of the company’s stock valued at $20,171,000 after buying an additional 22,261 shares in the last quarter. Finally, Elgethun Capital Management increased its holdings in RTX by 12.7% in the fourth quarter. Elgethun Capital Management now owns 2,633 shares of the company’s stock valued at $305,000 after buying an additional 296 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 6.6 %

NYSE RTX opened at $128.44 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm’s fifty day moving average price is $128.62 and its 200 day moving average price is $123.49. The company has a market capitalization of $171.48 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal 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 paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’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 owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Wells Fargo & Company decreased their price objective on shares of RTX from $156.00 to $136.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Four research 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. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.07.

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.