Shell Asset Management Co. Trims Holdings in RTX Co. (NYSE:RTX)

Shell Asset Management Co. lowered its position in RTX Co. (NYSE:RTX) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,108 shares of the company’s stock after selling 586 shares during the quarter. Shell Asset Management Co.’s holdings in RTX were worth $2,558,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. CX Institutional grew its position in 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 period. National Pension Service boosted its stake in RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares during the period. Deutsche Bank AG increased its position in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after acquiring an additional 936,953 shares during the last quarter. Archer Investment Corp raised 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 acquiring an additional 4,151 shares during the period. Finally, Optas LLC boosted its position in shares of RTX by 114.5% during the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock worth $817,000 after purchasing an additional 3,770 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,946 shares of company stock valued at $9,024,856 over the last three months. 0.15% of the stock is currently owned by company insiders.

RTX Trading Down 0.1%

NYSE RTX opened at $135.37 on Friday. The firm’s fifty day moving average is $128.66 and its two-hundred day moving average is $124.19. RTX Co. has a one year low of $99.07 and a one year high of $136.40. 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 firm has a market cap of $180.85 billion, a PE ratio of 38.13, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is 79.77%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RTX shares. Royal Bank of Canada cut their target price on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. Finally, DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Buy” and an average price target of $159.82.

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.