Cannell & Spears LLC Sells 3,784 Shares of RTX Co. (NYSE:RTX)

Cannell & Spears LLC trimmed its position in RTX Co. (NYSE:RTX) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,582 shares of the company’s stock after selling 3,784 shares during the quarter. Cannell & Spears LLC’s holdings in RTX were worth $15,574,000 at the end of the most recent quarter.

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

RTX Trading Down 1.3 %

Shares of RTX stock opened at $131.68 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $128.59 and its 200-day simple moving average is $123.06. RTX Co. has a 1 year low of $97.03 and a 1 year high of $136.17. The company 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.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. 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 presently 70.99%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.40.

Insider Buying and Selling

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % 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. 0.15% of the stock is owned by corporate insiders.

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.