Spectrum Asset Management Inc. NB CA Sells 3,227 Shares of RTX Co. (NYSE:RTX)

Spectrum Asset Management Inc. NB CA trimmed its holdings in RTX Co. (NYSE:RTX - Free Report) by 28.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,300 shares of the company's stock after selling 3,227 shares during the period. Spectrum Asset Management Inc. NB CA's holdings in RTX were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. 10Elms LLP purchased a new stake in RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC purchased a new stake in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management increased its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the fourth quarter worth about $39,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent research reports. Royal Bank of Canada reduced their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $159.82.

RTX Trading Down 0.6%

Shares of RTX traded down $0.89 during mid-day trading on Thursday, reaching $140.92. The company's stock had a trading volume of 4,663,104 shares, compared to its average volume of 5,379,992. The stock has a market cap of $188.26 billion, a PE ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $142.65. The company's fifty day moving average price is $130.44 and its two-hundred day moving average price is $126.17.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating 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 company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio is currently 79.77%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business'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 directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

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.