Smith Moore & CO. Sells 250 Shares of RTX Co. (NYSE:RTX)

Smith Moore & CO. cut its stake in shares of RTX Co. (NYSE:RTX) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,881 shares of the company’s stock after selling 250 shares during the period. Smith Moore & CO.’s holdings in RTX were worth $680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in RTX in the fourth quarter worth about $1,745,644,000. Amundi lifted its stake in shares of RTX by 83.1% in 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 holdings in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC bought a new stake in RTX during the fourth quarter valued at approximately $216,340,000. Finally, Vanguard Group Inc. increased its holdings in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX 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 transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, 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 at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

RTX Stock Down 9.8 %

RTX opened at $117.43 on Friday. The company has a market capitalization of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The firm has a 50-day simple moving average of $129.05 and a two-hundred day simple moving average of $123.35. 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 52 week low of $99.07 and a 52 week high of $136.17.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

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.