Southeastern Asset Management Inc. TN Reduces Stake in RTX Co. (NYSE:RTX)

Southeastern Asset Management Inc. TN decreased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 524,993 shares of the company's stock after selling 13,784 shares during the period. RTX comprises about 2.9% of Southeastern Asset Management Inc. TN's holdings, making the stock its 13th largest holding. Southeastern Asset Management Inc. TN's holdings in RTX were worth $60,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CX Institutional boosted its stake in RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after purchasing an additional 11,706 shares during the last quarter. National Pension Service boosted its stake in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after purchasing an additional 375,781 shares during the last quarter. Deutsche Bank AG boosted its stake in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Archer Investment Corp boosted its stake in RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company's stock valued at $610,000 after purchasing an additional 4,151 shares during the last quarter. Finally, Optas LLC boosted its stake in RTX by 114.5% during the 4th quarter. Optas LLC now owns 7,062 shares of the company's stock valued at $817,000 after purchasing an additional 3,770 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RTX. Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Wednesday, May 14th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, StockNews.com raised RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of "Buy" and an average price target of $159.82.

RTX Stock Performance

Shares of RTX stock traded up $1.68 during trading hours on Monday, reaching $137.16. 5,179,634 shares of the company traded hands, compared to its average volume of 5,383,334. RTX Co. has a 12-month low of $99.07 and a 12-month high of $137.67. 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 company has a market cap of $183.24 billion, a P/E ratio of 38.64, a P/E/G ratio of 2.11 and a beta of 0.60. The firm has a 50-day moving average price of $128.66 and a 200 day moving average price of $124.23.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $19.80 billion. As a group, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.98%. 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. RTX's dividend payout ratio is presently 79.77%.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 69,946 shares of company stock worth $9,024,856. Corporate insiders own 0.15% of the company's stock.

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.