RTX Co. (NYSE:RTX) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. cut its holdings in RTX Co. (NYSE:RTX) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,000 shares of the company’s stock after selling 6,000 shares during the quarter. RTX comprises approximately 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 22nd largest holding. Olstein Capital Management L.P.’s holdings in RTX were worth $8,778,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors lifted its position in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares during the period. Capital International Investors lifted its holdings in shares of RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after purchasing an additional 11,163,222 shares during the period. Norges Bank purchased a new position in RTX in the 4th quarter valued at $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 buying an additional 6,932,011 shares during the period. Finally, Van ECK Associates Corp raised its position in RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after buying an additional 2,294,908 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now 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 is available at this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,937 shares of company stock valued at $12,256,952. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RTX. Bank of America lifted their target price on shares of 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 stock an “overweight” rating in a research note on Friday, May 17th. Susquehanna upped their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. UBS Group raised their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $98.33.

RTX Price Performance

Shares of NYSE RTX traded up $0.33 during trading on Wednesday, reaching $100.74. The company had a trading volume of 2,149,212 shares, compared to its average volume of 7,532,164. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65. The stock has a 50-day moving average price of $104.36 and a two-hundred day moving average price of $95.92. The stock has a market capitalization of $133.93 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

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.