Mendel Money Management Decreases Stake in RTX Co. (NYSE:RTX)

Mendel Money Management cut its stake in shares of RTX Co. (NYSE:RTX) by 2.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,769 shares of the company’s stock after selling 274 shares during the quarter. Mendel Money Management’s holdings in RTX were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi grew its position in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. boosted its position in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $216,340,000. Vanguard Group Inc. lifted its stake in shares of RTX by 1.1% in the 4th 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 period. Finally, Proficio Capital Partners LLC boosted its holdings in RTX by 19,052.5% during the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after buying an additional 1,037,792 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company upped their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average price target of $166.40.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business’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 transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by corporate insiders.

RTX Trading Up 0.9 %

Shares of RTX stock opened at $135.84 on Wednesday. The stock has a market capitalization of $181.36 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a fifty-two week low of $95.58 and a fifty-two week high of $135.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a 50 day moving average price of $127.81 and a 200 day moving average price of $122.79.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) 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.