Brandywine Global Investment Management LLC Sells 57,890 Shares of RTX Co. (NYSE:RTX)

Brandywine Global Investment Management LLC reduced its position in RTX Co. (NYSE:RTX) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 748,685 shares of the company’s stock after selling 57,890 shares during the period. Brandywine Global Investment Management LLC’s holdings in RTX were worth $86,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Fairway Wealth LLC bought a new position in RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Millstone Evans Group LLC purchased a new stake in RTX in the fourth quarter worth about $39,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter worth $40,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $131.68 on Friday. The firm has a fifty day moving average price of $128.59 and a 200 day moving average price of $123.03. RTX Co. has a 1 year low of $97.03 and a 1 year high of $136.17. The stock has a market cap of $175.81 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. 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 (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

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.