RTX Co. (NYSE:RTX) Stock Holdings Reduced by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC decreased its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,827 shares of the company's stock after selling 1,967 shares during the period. Laird Norton Wetherby Wealth Management LLC's holdings in RTX were worth $3,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RTX. Norges Bank acquired a new position in shares of RTX during the fourth quarter valued at $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its position in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi boosted its stake in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. grew its position in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in shares of RTX in the fourth quarter valued at approximately $216,340,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. The trade was a 35.27% 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, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company's stock, 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. In the last quarter, insiders have sold 69,946 shares of company stock worth $9,024,856. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. JPMorgan Chase & Co. reduced their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Citigroup reduced their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and raised their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $159.82.

RTX Price Performance

NYSE:RTX traded up $0.10 during trading hours on Wednesday, reaching $130.82. 4,840,983 shares of the company's stock were exchanged, compared to its average volume of 5,408,069. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $174.77 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The business's 50-day simple moving average is $128.37 and its two-hundred day simple moving average is $124.03.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 2.08%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

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.