Bryn Mawr Capital Management LLC Trims Stock Holdings in RTX Co. (NYSE:RTX)

Bryn Mawr Capital Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 97.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,412 shares of the company’s stock after selling 141,991 shares during the period. Bryn Mawr Capital Management LLC’s holdings in RTX were worth $511,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RTX. Assenagon Asset Management S.A. grew its position in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares in the last quarter. Jennison Associates LLC grew its position in shares of RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares in the last quarter. Fisher Asset Management LLC grew 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 valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 1.5 %

NYSE RTX opened at $123.23 on Friday. 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 capitalization of $164.16 billion, a PE ratio of 34.71, a PEG ratio of 2.12 and a beta of 0.82. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The business’s 50-day moving average is $121.49 and its 200 day moving average is $120.89.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. Sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s payout ratio is presently 70.99%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RTX. Wells Fargo & Company upped their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group upped their target price on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna upped their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

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.