Bridgeway Capital Management LLC Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Bridgeway Capital Management LLC trimmed its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,522 shares of the company's stock after selling 35,550 shares during the period. Bridgeway Capital Management LLC's holdings in RTX were worth $18,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brevan Howard Capital Management LP boosted its holdings in shares of RTX by 1,232.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 80,230 shares of the company's stock worth $9,284,000 after purchasing an additional 74,208 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of RTX during the fourth quarter worth $322,000. Captrust Financial Advisors increased its position in RTX by 8.3% in the 4th quarter. Captrust Financial Advisors now owns 259,334 shares of the company's stock worth $30,010,000 after purchasing an additional 19,876 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of RTX during the 4th quarter valued at about $19,669,000. Finally, Castlekeep Investment Advisors LLC acquired a new position in RTX in the fourth quarter worth approximately $138,585,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

Shares of RTX stock traded up $0.02 on Friday, hitting $128.69. 4,857,374 shares of the company's stock were exchanged, compared to its average volume of 5,414,201. The company has a 50-day simple moving average of $128.26 and a 200-day simple moving average of $123.93. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. 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 stock has a market capitalization of $171.92 billion, a PE ratio of 36.25, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS 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 business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, equities analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company 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. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RTX shares. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Royal Bank of Canada decreased their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Vertical Research upgraded RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, RTX has an average rating of "Buy" and an average target price of $161.06.

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.