Boston Partners Trims Holdings in RTX Co. (NYSE:RTX)

Boston Partners cut its stake in RTX Co. (NYSE:RTX - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,212,188 shares of the company's stock after selling 1,683,497 shares during the quarter. Boston Partners owned about 0.22% of RTX worth $270,405,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Ieq Capital LLC grew its position in RTX by 32.8% during the fourth quarter. Ieq Capital LLC now owns 62,310 shares of the company's stock worth $5,243,000 after buying an additional 15,398 shares in the last quarter. Principal Financial Group Inc. grew its position in RTX by 8.6% during the fourth quarter. Principal Financial Group Inc. now owns 1,912,702 shares of the company's stock worth $160,935,000 after buying an additional 150,760 shares in the last quarter. USA Financial Formulas grew its position in RTX by 510.3% during the fourth quarter. USA Financial Formulas now owns 476 shares of the company's stock worth $40,000 after buying an additional 398 shares in the last quarter. Private Portfolio Partners LLC grew its position in RTX by 1.5% during the fourth quarter. Private Portfolio Partners LLC now owns 9,488 shares of the company's stock worth $798,000 after buying an additional 144 shares in the last quarter. Finally, AlphaStar Capital Management LLC grew its position in RTX by 21.6% during the fourth quarter. AlphaStar Capital Management LLC now owns 9,840 shares of the company's stock worth $828,000 after buying an additional 1,748 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gregory Hayes sold 89,762 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm's stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,618 shares of company stock worth $13,397,978. 0.13% of the stock is currently owned by company insiders.

RTX Trading Down 0.5 %

NYSE RTX traded down $0.51 on Monday, hitting $105.81. The company's stock had a trading volume of 6,044,958 shares, compared to its average volume of 8,007,061. RTX Co. has a 52-week low of $68.56 and a 52-week high of $107.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The company's 50-day simple moving average is $98.13 and its 200 day simple moving average is $89.72. The firm has a market cap of $140.68 billion, a P/E ratio of 41.50, a PEG ratio of 1.91 and a beta of 0.84.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion during the quarter, compared to analysts' expectations of $18.44 billion. During the same quarter last year, the business posted $1.22 EPS. The business's revenue was up 12.1% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.38%. This is a boost from RTX's previous quarterly dividend of $0.59. RTX's dividend payout ratio (DPR) is 92.55%.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Robert W. Baird boosted their target price on RTX from $94.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. TheStreet upgraded RTX from a "c" rating to a "b-" rating in a research report on Tuesday, January 23rd. Wells Fargo & Company reiterated an "overweight" rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Finally, TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, RTX presently has a consensus rating of "Hold" and a consensus price target of $96.93.

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.

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