Edgestream Partners L.P. Reduces Holdings in RTX Co. (NYSE:RTX)

Edgestream Partners L.P. lowered its position in shares of RTX Co. (NYSE:RTX) by 84.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,308 shares of the company’s stock after selling 28,634 shares during the period. Edgestream Partners L.P.’s holdings in RTX were worth $614,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RTX. Assenagon Asset Management S.A. lifted its holdings in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in RTX during the fourth quarter valued at approximately $216,340,000. Proficio Capital Partners LLC lifted 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 valued at $120,724,000 after purchasing an additional 1,037,792 shares in the last quarter. Jennison Associates LLC lifted its holdings in RTX by 190.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective 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, Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Trading Down 0.0 %

RTX stock opened at $128.09 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $89.82 and a twelve month high of $135.36. The stock has a market capitalization of $170.63 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm’s fifty day simple moving average is $124.78 and its two-hundred day simple moving average is $122.01.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 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.