Baird Financial Group Inc. Trims Stake in RTX Co. (NYSE:RTX)

Baird Financial Group Inc. decreased its holdings in RTX Co. (NYSE:RTX - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 741,830 shares of the company's stock after selling 2,478 shares during the period. Baird Financial Group Inc. owned about 0.06% of RTX worth $85,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. grew its holdings in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC boosted its holdings in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc grew its stake in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after buying an additional 80 shares during the period. New England Professional Planning Group Inc. increased its holdings in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after buying an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC raised its position in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after buying an additional 81 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 0.1 %

NYSE RTX traded down $0.19 during trading hours on Tuesday, hitting $128.40. 2,593,511 shares of the company were exchanged, compared to its average volume of 5,436,949. The company has a 50 day moving average of $128.46 and a two-hundred day moving average of $123.86. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $171.54 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX - Get Free Report) last issued 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 net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Susquehanna dropped their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $161.06.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $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 the firm's stock in a transaction that occurred 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 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. Over the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company's stock.

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.