KCM Investment Advisors LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

KCM Investment Advisors LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,932 shares of the company’s stock after selling 271 shares during the period. KCM Investment Advisors LLC’s holdings in RTX were worth $1,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the last quarter. Franklin Resources Inc. grew its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RTX in the fourth quarter worth $1,745,644,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Down 9.8 %

RTX stock opened at $117.43 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $129.05 and its 200 day simple moving average is $123.38. The stock has a market cap of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.15% of the company’s stock.

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.