RTX Co. (NYSE:RTX) Stock Position Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 28.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,053,392 shares of the company's stock after selling 2,383,809 shares during the period. Ameriprise Financial Inc. owned 0.45% of RTX worth $700,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional boosted its position in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after purchasing an additional 11,706 shares during the period. National Pension Service grew its position in shares of 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 acquiring an additional 375,781 shares during the last quarter. Czech National Bank increased its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company's stock valued at $33,396,000 after acquiring an additional 17,608 shares during the period. Archer Investment Corp raised its position in 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 purchasing an additional 4,151 shares during the last quarter. Finally, Optas LLC boosted its stake in 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. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares of the company's stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction dated Monday, February 24th. The stock was 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 of the company's stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,800 shares of company stock valued at $8,496,076. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RTX shares. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Vertical Research raised RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Three 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.com, the company has a consensus rating of "Buy" and an average price target of $161.06.

RTX Trading Down 0.4 %

Shares of RTX traded down $0.56 during trading hours on Wednesday, hitting $127.60. The stock had a trading volume of 4,029,017 shares, compared to its average volume of 5,425,331. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The firm has a market cap of $170.47 billion, a P/E ratio of 35.94, 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 simple moving average is $128.35 and its 200 day simple moving average is $123.89.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Equities research analysts forecast that RTX Co. will post 6.11 EPS 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 paid a dividend of $0.68 per share. 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 annualized dividend and a dividend yield of 2.13%. RTX's dividend payout ratio (DPR) is currently 79.77%.

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.