RTX Co. (NYSE:RTX) Holdings Cut by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,830 shares of the company's stock after selling 7,961 shares during the quarter. First Manhattan CO. LLC.'s holdings in RTX were worth $9,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Fairway Wealth LLC acquired a new stake in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% in 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 in the last quarter. Millstone Evans Group LLC acquired a new stake in RTX in the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock worth $43,000 after acquiring an additional 279 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RTX shares. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Bank of America increased their target price on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Susquehanna dropped their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target 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. Finally, Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $161.06.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares of the company's stock, valued at approximately $3,771,880.44. The trade was a 39.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 69,946 shares of company stock worth $9,024,856 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

Shares of NYSE RTX traded up $1.98 during trading on Monday, hitting $130.65. The company had a trading volume of 4,685,384 shares, compared to its average volume of 5,410,444. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. The business's 50-day moving average is $128.28 and its 200 day moving average is $123.94. The company has a market cap of $174.54 billion, a P/E ratio of 36.80, a PEG ratio of 2.11 and a beta of 0.60. 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 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 return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. 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 2.08%. RTX's dividend payout ratio is currently 79.77%.

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.