Engine Capital Management LP Sells 202,000 Shares of RTX Co. (NYSE:RTX)

Engine Capital Management LP decreased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 94.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,810 shares of the company's stock after selling 202,000 shares during the period. RTX comprises approximately 0.3% of Engine Capital Management LP's holdings, making the stock its 28th biggest holding. Engine Capital Management LP's holdings in RTX were worth $1,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. boosted its stake in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after buying an additional 79 shares during the last quarter. Fusion Capital LLC increased its holdings in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after buying an additional 80 shares during the last quarter. McDonough Capital Management Inc increased its holdings in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. increased its holdings in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after buying an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC increased its holdings in RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent research reports. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Citigroup lowered their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. UBS Group upped their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $161.06.

RTX Price Performance

Shares of RTX stock traded up $0.02 during trading on Friday, hitting $128.69. The stock had a trading volume of 4,857,374 shares, compared to its average volume of 5,413,352. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $171.92 billion, a P/E ratio of 36.25, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The business has a fifty day moving average of $128.26 and a two-hundred day moving average of $123.90.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts expect 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 2.11%. RTX's dividend payout ratio is currently 79.77%.

Insider Buying and Selling at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is currently owned by corporate 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.