Sawgrass Asset Management LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Sawgrass Asset Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 11.4% in the 4th quarter, HoldingsChannel reports. The firm owned 8,591 shares of the company’s stock after selling 1,107 shares during the period. Sawgrass Asset Management LLC’s holdings in RTX were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RTX. CX Institutional grew its position in RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after buying an additional 11,706 shares during the period. LRI Investments LLC grew its position in RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management acquired a new position in RTX during the third quarter worth about $1,307,000. Czech National Bank grew its position in RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after buying an additional 17,608 shares during the period. Finally, Archer Investment Corp grew its position in shares of RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after purchasing an additional 4,151 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on RTX. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Wells Fargo & Company raised 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. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $163.07.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated 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 sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $126.82 on Thursday. The firm has a market cap of $168.94 billion, a P/E ratio of 35.72, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The firm has a fifty day moving average of $120.55 and a two-hundred day moving average of $120.53.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

About RTX

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.