Westside Investment Management Inc. Sells 200 Shares of RTX Co. (NYSE:RTX)

Westside Investment Management Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 5.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,531 shares of the company’s stock after selling 200 shares during the period. Westside Investment Management Inc.’s holdings in RTX were worth $345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Capital Research Global Investors increased 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 valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors grew its position in shares of RTX by 20.6% in 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 during the last quarter. Norges Bank purchased a new position in shares of RTX in the 4th quarter worth approximately $690,154,000. Massachusetts Financial Services Co. MA grew its position in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of RTX by 129.9% in 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. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. UBS Group boosted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.33.

Insider Activity at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated 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 sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by company insiders.

RTX Price Performance

RTX stock opened at $100.74 on Thursday. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The firm has a market capitalization of $133.93 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 1.76 and a beta of 0.82. The company has a fifty day simple moving average of $104.35 and a 200-day simple moving average of $95.95. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released 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 net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed 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 dividend yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

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.