Schnieders Capital Management LLC Decreases Position in RTX Co. (NYSE:RTX)

Schnieders Capital Management LLC reduced its stake in RTX Co. (NYSE:RTX) by 19.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,523 shares of the company’s stock after selling 5,308 shares during the period. Schnieders Capital Management LLC’s holdings in RTX were worth $1,811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in shares of RTX in the 3rd quarter valued at approximately $355,350,000. Massachusetts Financial Services Co. MA increased its holdings in RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of RTX by 8,331.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after acquiring an additional 1,745,344 shares during the period. Sanders Capital LLC boosted its stake in shares of RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after acquiring an additional 1,682,928 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in RTX by 12,753.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RTX shares. Royal Bank of Canada lifted their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. Finally, Barclays lifted their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $93.40.

Insider Activity at RTX

In related news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Down 0.2 %

NYSE:RTX traded down $0.22 on Tuesday, hitting $101.34. 8,567,400 shares of the stock were exchanged, compared to its average volume of 8,264,439. The stock has a fifty day moving average of $94.97 and a 200-day moving average of $87.12. The stock has a market cap of $134.75 billion, a PE ratio of 45.24, a PEG ratio of 1.85 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. As a group, equities analysts expect that RTX Co. will post 5.39 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 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is currently 105.36%.

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.