Klingenstein Fields & Co. LP Decreases Stake in RTX Co. (NYSE:RTX)

Klingenstein Fields & Co. LP lessened its stake in RTX Co. (NYSE:RTX) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 333,554 shares of the company’s stock after selling 1,961 shares during the quarter. RTX comprises 1.6% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 21st largest holding. Klingenstein Fields & Co. LP’s holdings in RTX were worth $38,599,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. FMR LLC raised its position in shares of RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after acquiring an additional 140,697 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of RTX by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after acquiring an additional 25,407 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.7 %

RTX opened at $125.95 on Friday. The stock’s 50 day moving average price is $120.70 and its 200 day moving average price is $120.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market cap of $167.78 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43.

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

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. RTX’s dividend payout ratio is 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on RTX shares. JPMorgan Chase & Co. lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna lifted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

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.