Capital Group Private Client Services Inc. Sells 24,204 Shares of RTX Co. (NYSE:RTX)

Capital Group Private Client Services Inc. cut its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 540,263 shares of the company's stock after selling 24,204 shares during the period. Capital Group Private Client Services Inc.'s holdings in RTX were worth $62,519,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Morse Asset Management Inc acquired a new position in RTX during the 3rd quarter worth $321,000. Tudor Financial Inc. bought a new stake in shares of RTX in the third quarter valued at approximately $797,000. World Investment Advisors LLC boosted its holdings in RTX by 37.1% in the 3rd quarter. World Investment Advisors LLC now owns 40,809 shares of the company's stock valued at $4,944,000 after purchasing an additional 11,033 shares during the period. Sfmg LLC lifted its stake in RTX by 4.7% during the third quarter. Sfmg LLC now owns 73,978 shares of the company's stock worth $8,963,000 after purchasing an additional 3,306 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of RTX by 365.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company's stock valued at $13,962,000 after acquiring an additional 90,499 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX traded down $11.07 during midday trading on Tuesday, reaching $115.06. The stock had a trading volume of 6,597,127 shares, compared to its average volume of 5,474,627. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market cap of $153.61 billion, a PE ratio of 32.41, a P/E/G ratio of 2.11 and a beta of 0.58. The firm has a 50 day simple moving average of $128.57 and a 200-day simple moving average of $123.84.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $19.80 billion. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is currently 70.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Citigroup lowered their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and increased their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $165.27.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 over the last three months. Corporate 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.