Baldwin Investment Management LLC Sells 2,686 Shares of RTX Co. (NYSE:RTX)

Baldwin Investment Management LLC cut its position in shares of RTX Co. (NYSE:RTX - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,691 shares of the company's stock after selling 2,686 shares during the quarter. RTX accounts for about 0.5% of Baldwin Investment Management LLC's investment portfolio, making the stock its 29th largest holding. Baldwin Investment Management LLC's holdings in RTX were worth $3,899,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in shares of RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during 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 acquired a new stake in RTX in the fourth quarter worth about $39,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired 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 and hedge funds.

RTX Stock Down 0.4 %

Shares of RTX stock traded down $0.56 during midday trading on Wednesday, reaching $127.60. 4,029,017 shares of the company's stock traded hands, compared to its average volume of 5,425,331. The company has a market cap of $170.47 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth 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. The company's 50 day simple moving average is $128.35 and its 200 day simple moving average is $123.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada dropped their price target on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Susquehanna cut their price objective on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Three 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $161.06.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the 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 sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,800 shares of company stock valued at $8,496,076 in the last ninety days. Company insiders own 0.15% of the company's stock.

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.