Clearbridge Investments LLC Sells 328,365 Shares of RTX Co. (NYSE:RTX)

Clearbridge Investments LLC lessened its stake in RTX Co. (NYSE:RTX) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,397,896 shares of the company’s stock after selling 328,365 shares during the quarter. RTX makes up about 0.9% of Clearbridge Investments LLC’s holdings, making the stock its 14th largest position. Clearbridge Investments LLC’s holdings in RTX were worth $1,087,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Norges Bank bought a new stake in RTX during the fourth quarter worth $1,745,644,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of RTX by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after purchasing an additional 151,474 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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

RTX stock opened at $131.68 on Friday. The stock’s 50 day simple moving average is $128.59 and its 200 day simple moving average is $123.03. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $97.03 and a 12-month high of $136.17. The stock has a market capitalization of $175.81 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.91%. RTX’s payout ratio is 70.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RTX shares. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Morgan Stanley upped their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price 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.