Los Angeles Capital Management LLC Sells 18,412 Shares of RTX Co. (NYSE:RTX)

Los Angeles Capital Management LLC lessened its stake in RTX Co. (NYSE:RTX) by 27.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,726 shares of the company’s stock after selling 18,412 shares during the quarter. Los Angeles Capital Management LLC’s holdings in RTX were worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Natixis Advisors L.P. grew its holdings in shares of RTX by 97.9% in the 4th quarter. Natixis Advisors L.P. now owns 1,140,089 shares of the company’s stock valued at $95,926,000 after buying an additional 563,959 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of RTX by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,040,936 shares of the company’s stock worth $87,584,000 after acquiring an additional 8,390 shares in the last quarter. West Family Investments Inc. raised its position in shares of RTX by 3.0% during the fourth quarter. West Family Investments Inc. now owns 4,404 shares of the company’s stock worth $371,000 after purchasing an additional 130 shares during the period. Heritage Wealth Management LLC bought a new position in shares of RTX during the 4th quarter valued at about $1,100,000. Finally, Robertson Stephens Wealth Management LLC increased its stake in RTX by 5.8% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 36,496 shares of the company’s stock worth $3,071,000 after purchasing an additional 2,007 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 137,842 shares of company stock valued at $13,603,426 over the last ninety days. 0.13% of the stock is owned by company insiders.

RTX Price Performance

RTX stock opened at $101.40 on Monday. The stock has a fifty day moving average of $96.70 and a 200-day moving average of $88.60. The stock has a market capitalization of $134.81 billion, a P/E ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.49%. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is 92.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. Royal Bank of Canada lifted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, UBS Group upped their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $96.93.

RTX Company 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.