AlTi Global Inc. Sells 5,655 Shares of RTX Co. (NYSE:RTX)

AlTi Global Inc. lessened its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 25.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,695 shares of the company's stock after selling 5,655 shares during the period. AlTi Global Inc.'s holdings in RTX were worth $1,982,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Fairway Wealth LLC purchased a new stake in RTX during the fourth quarter valued at about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Millstone Evans Group LLC purchased a new position in RTX during the 4th quarter worth approximately $39,000. Modus Advisors LLC acquired a new stake in RTX during the 4th quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter valued at $40,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on 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 upgraded shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Citigroup decreased their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $161.06.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX 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 sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,800 shares of company stock worth $8,496,076. 0.15% of the stock is currently owned by company insiders.

RTX Stock Performance

RTX traded down $0.56 during trading on Wednesday, hitting $127.60. The stock had a trading volume of 4,029,017 shares, compared to its average volume of 5,431,338. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The company has a 50 day simple moving average of $128.46 and a 200-day simple moving average of $123.86. The firm has a market cap of $170.47 billion, a PE ratio of 35.94, a P/E/G ratio of 2.11 and a beta of 0.60.

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

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 2.13%. RTX's dividend payout ratio is 79.77%.

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.