Envestnet Asset Management Inc. Reduces Position in RTX Co. (NYSE:RTX)

Envestnet Asset Management Inc. trimmed its stake in RTX Co. (NYSE:RTX) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,405,264 shares of the company’s stock after selling 12,453 shares during the quarter. Envestnet Asset Management Inc.’s holdings in RTX were worth $394,057,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in RTX by 2.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,876 shares of the company’s stock valued at $1,143,000 after purchasing an additional 258 shares in the last quarter. Mizuho Bank Ltd. lifted its stake in shares of RTX by 35.4% during the fourth quarter. Mizuho Bank Ltd. now owns 650 shares of the company’s stock valued at $75,000 after buying an additional 170 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in RTX during the fourth quarter worth approximately $45,408,000. Wealth Advisors of Tampa Bay LLC grew its stake in RTX by 1.0% in the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 30,469 shares of the company’s stock worth $3,526,000 after acquiring an additional 300 shares during the period. Finally, First Western Trust Bank raised its holdings in RTX by 27.4% in the 4th quarter. First Western Trust Bank now owns 10,981 shares of the company’s stock valued at $1,271,000 after acquiring an additional 2,360 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Price Performance

RTX stock opened at $117.43 on Friday. The firm has a market cap of $156.78 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The stock has a 50-day simple moving average of $129.05 and a 200-day simple moving average of $123.38.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Insiders own 0.15% of the company’s stock.

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.