Malaga Cove Capital LLC Reduces Position in RTX Co. (NYSE:RTX)

Malaga Cove Capital LLC lessened its holdings in RTX Co. (NYSE:RTX) by 6.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,039 shares of the company’s stock after selling 1,842 shares during the period. Malaga Cove Capital LLC’s holdings in RTX were worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RTX. Northern Trust Corp grew its position in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its stake in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after acquiring an additional 60,319 shares during the last quarter. Sanders Capital LLC grew its holdings 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 purchasing an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of RTX by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after purchasing an additional 593,305 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,842 shares of company stock worth $13,603,426. 0.13% of the stock is currently owned by company insiders.

RTX Price Performance

Shares of RTX stock traded down $0.49 during trading on Friday, hitting $101.40. The stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The business has a fifty day moving average of $96.70 and a two-hundred day moving average of $88.49. The firm has a market cap of $134.81 billion, a P/E ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.49%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s payout ratio is presently 92.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RTX shares. Robert W. Baird increased their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Barclays raised their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Finally, Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, RTX presently has an average 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.