Hotchkis & Wiley Capital Management LLC Decreases Holdings in RTX Co. (NYSE:RTX)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,342,370 shares of the company’s stock after selling 27,600 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.18% of RTX worth $197,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors raised its stake in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after acquiring an additional 17,351,313 shares during the last quarter. Capital International Investors raised its stake in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares in the last quarter. Norges Bank purchased a new position in shares of RTX during the 4th quarter worth approximately $690,154,000. Massachusetts Financial Services Co. MA increased its stake in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after purchasing an additional 2,294,908 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 0.1 %

Shares of NYSE RTX traded down $0.11 during midday trading on Tuesday, reaching $106.98. 608,333 shares of the company’s stock were exchanged, compared to its average volume of 7,509,129. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The stock has a market capitalization of $142.23 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The business’s fifty day moving average price is $103.48 and its two-hundred day moving average price is $93.46.

RTX (NYSE:RTXGet Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.36%. RTX’s dividend payout ratio (DPR) is 98.82%.

Analysts Set New Price Targets

Several research firms recently weighed in on RTX. Susquehanna raised their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $98.33.

Read Our Latest Research Report on RTX

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX 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 transaction, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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