Cullen Capital Management LLC Has $230.26 Million Stock Position in RTX Co. (NYSE:RTX)

Cullen Capital Management LLC reduced its position in RTX Co. (NYSE:RTX) by 6.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,989,820 shares of the company’s stock after selling 146,684 shares during the period. RTX accounts for 2.6% of Cullen Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Cullen Capital Management LLC’s holdings in RTX were worth $230,262,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Fairway Wealth LLC bought a new position in shares of RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Modus Advisors LLC bought a new position in RTX in the fourth quarter valued at approximately $39,000. Millstone Evans Group LLC acquired a new stake in RTX during the 4th quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX during the 4th quarter valued at $40,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $117.43 on Friday. The company has a market capitalization of $156.78 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.17. The stock has a fifty day simple moving average of $129.05 and a 200 day simple moving average of $123.35.

RTX (NYSE:RTX) last posted 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%. Sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Bank of America increased their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. JPMorgan Chase & Co. upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

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.