Wellington Management Group LLP Sells 36,987 Shares of RTX Co. (NYSE:RTX)

Wellington Management Group LLP lowered its holdings in RTX Co. (NYSE:RTX) by 1.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,629,648 shares of the company’s stock after selling 36,987 shares during the quarter. Wellington Management Group LLP owned approximately 0.20% of RTX worth $304,303,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in RTX during the 4th quarter valued at $1,745,644,000. Amundi grew its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. raised its holdings in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in RTX during the fourth quarter valued at $216,340,000. Finally, Vanguard Group Inc. boosted its stake in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last three months. 0.15% of the stock is owned by company insiders.

RTX Stock Performance

Shares of RTX opened at $132.85 on Wednesday. RTX Co. has a 52 week low of $97.03 and a 52 week high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $177.36 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 2.11 and a beta of 0.78. The business has a 50-day simple moving average of $128.96 and a two-hundred day simple moving average of $123.24.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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, analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. RTX’s payout ratio is 70.99%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RTX. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Morgan Stanley raised their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

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.