Cambridge Investment Research Advisors Inc. Sells 13,201 Shares of RTX Co. (NYSE:RTX)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 286,175 shares of the company’s stock after selling 13,201 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in RTX were worth $33,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advantage Inc. bought a new stake in RTX during the fourth quarter worth approximately $690,000. Brevan Howard Capital Management LP lifted its stake in shares of RTX by 1,232.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 80,230 shares of the company’s stock worth $9,284,000 after buying an additional 74,208 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of RTX during the 4th quarter worth $322,000. Captrust Financial Advisors grew its stake in RTX by 8.3% in the 4th quarter. Captrust Financial Advisors now owns 259,334 shares of the company’s stock valued at $30,010,000 after buying an additional 19,876 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in RTX in the 4th quarter worth $19,669,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction 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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,800 shares of company stock valued at $8,496,076 over the last ninety days. 0.15% of the stock is owned by insiders.

RTX Stock Down 0.1 %

Shares of NYSE:RTX opened at $128.40 on Wednesday. The company has a market capitalization of $171.54 billion, a PE ratio of 36.17, a P/E/G ratio of 2.11 and a beta of 0.60. 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 company’s fifty day moving average is $128.46 and its 200-day moving average is $123.86. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. 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 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is presently 79.77%.

Analysts Set New Price Targets

RTX has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $161.06.

About RTX

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.