Primecap Management Co. CA Cuts Holdings in RTX Co. (NYSE:RTX)

Primecap Management Co. CA cut its position in shares of RTX Co. (NYSE:RTX) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 385,432 shares of the company’s stock after selling 500 shares during the quarter. Primecap Management Co. CA’s holdings in RTX were worth $44,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional boosted its holdings in RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the last quarter. National Pension Service raised its position in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares during the period. LRI Investments LLC raised its position in RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares during the period. Czech National Bank raised its position in RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the period. Finally, Archer Investment Corp raised its position in RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Performance

RTX stock opened at $132.57 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 1-year low of $94.03 and a 1-year high of $135.36. The firm has a market capitalization of $176.99 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm’s 50 day simple moving average is $126.04 and its 200 day simple moving average is $122.30.

RTX (NYSE:RTX) last released its quarterly 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 net margin of 5.91% and a return on equity of 12.45%. As a group, analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. RTX’s dividend payout ratio is presently 70.99%.

About RTX

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.