Oak Grove Capital LLC Sells 2,360 Shares of RTX Co. (NYSE:RTX)

Oak Grove Capital LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 57,707 shares of the company’s stock after selling 2,360 shares during the quarter. RTX makes up 1.0% of Oak Grove Capital LLC’s holdings, making the stock its 19th largest holding. Oak Grove Capital LLC’s holdings in RTX were worth $6,678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after acquiring an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its stake in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of RTX by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after purchasing an additional 151,474 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after buying an additional 549,814 shares during the last quarter. Finally, FMR LLC grew its position in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after buying an additional 490,109 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RTX. Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Down 3.9 %

Shares of RTX stock opened at $128.66 on Wednesday. The stock has a market cap of $171.40 billion, a P/E ratio of 36.24, a PEG ratio of 2.11 and a beta of 0.82. The company’s fifty day simple moving average is $123.30 and its two-hundred day simple moving average is $121.59. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $89.44 and a 52 week high of $135.36.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The shares were 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 directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% 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.