RTX Co. (NYSE:RTX) is Saratoga Research & Investment Management’s 4th Largest Position

Saratoga Research & Investment Management reduced its stake in RTX Co. (NYSE:RTX) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,127,118 shares of the company’s stock after selling 331,988 shares during the quarter. RTX comprises approximately 6.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 4th biggest holding. Saratoga Research & Investment Management owned approximately 0.08% of RTX worth $130,430,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RTX. Fairway Wealth LLC bought a new position in shares of RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $39,000. Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the 4th quarter valued at $40,000. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Performance

RTX stock opened at $131.68 on Monday. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. The stock has a market cap of $175.81 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. The stock’s 50 day simple moving average is $128.59 and its two-hundred day simple moving average is $123.06. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. As a group, analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.