Sigma Investment Counselors Inc. Trims Position in RTX Co. (NYSE:RTX)

Sigma Investment Counselors Inc. cut its holdings in shares of RTX Co. (NYSE:RTX) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,643 shares of the company’s stock after selling 159 shares during the period. Sigma Investment Counselors Inc.’s holdings in RTX were worth $1,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RTX. Assenagon Asset Management S.A. increased its stake in shares of RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares during the period. Jennison Associates LLC grew its stake in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after purchasing an additional 993,273 shares during the period. Fisher Asset Management LLC grew its stake in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Janus Henderson Group PLC grew its stake in RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the period. Finally, Van ECK Associates Corp grew its stake in RTX by 30.0% in the fourth quarter. Van ECK Associates Corp now owns 2,310,221 shares of the company’s stock worth $267,339,000 after purchasing an additional 532,970 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

RTX Trading Down 1.5 %

Shares of NYSE:RTX opened at $123.23 on Friday. The company has a market cap of $164.16 billion, a P/E ratio of 34.71, a PEG ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The stock’s fifty day moving average price is $121.49 and its 200-day moving average price is $120.93.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. UBS Group upped their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $163.07.

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.