Baxter Bros Inc. Decreases Holdings in RTX Co. (NYSE:RTX)

Baxter Bros Inc. reduced its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,169 shares of the company's stock after selling 4,025 shares during the period. RTX comprises about 1.7% of Baxter Bros Inc.'s investment portfolio, making the stock its 18th biggest position. Baxter Bros Inc.'s holdings in RTX were worth $13,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RTX. 10Elms LLP acquired a new position in shares of RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter worth about $31,000. Picton Mahoney Asset Management boosted its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the 4th quarter worth about $39,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.8%

Shares of NYSE RTX traded up $1.08 during midday trading on Wednesday, reaching $138.58. The stock had a trading volume of 3,200,379 shares, compared to its average volume of 5,363,309. The firm has a market cap of $185.14 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a twelve month low of $99.07 and a twelve month high of $138.83. 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 50 day moving average price is $129.24 and its 200 day moving average price is $125.39.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $19.80 billion. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current 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. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

RTX has been the subject of several research analyst reports. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. Argus raised RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $159.82.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by corporate insiders.

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.