First Manhattan CO. LLC. Has $9.47 Million Holdings in RTX Co. (NYSE:RTX)

First Manhattan CO. LLC. decreased its stake in RTX Co. (NYSE:RTX) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,830 shares of the company’s stock after selling 7,961 shares during the quarter. First Manhattan CO. LLC.’s holdings in RTX were worth $9,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Family Management Corp increased its stake in RTX by 8.9% in the fourth quarter. Family Management Corp now owns 3,584 shares of the company’s stock valued at $415,000 after purchasing an additional 294 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of RTX by 2.7% in the 4th quarter. Clark Capital Management Group Inc. now owns 10,599 shares of the company’s stock valued at $1,226,000 after buying an additional 281 shares during the period. Deutsche Bank AG increased its position in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after buying an additional 936,953 shares in the last quarter. EP Wealth Advisors LLC raised its stake in RTX by 0.3% during the 4th quarter. EP Wealth Advisors LLC now owns 567,351 shares of the company’s stock worth $65,654,000 after buying an additional 1,432 shares during the period. Finally, Concentric Capital Strategies LP grew its stake in RTX by 183.6% in the fourth quarter. Concentric Capital Strategies LP now owns 188,195 shares of the company’s stock valued at $21,778,000 after acquiring an additional 121,830 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RTX. UBS Group raised their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Royal Bank of Canada cut their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Buy” and a consensus price target of $161.06.

RTX Stock Up 0.0 %

RTX stock opened at $128.69 on Friday. The business’s 50 day simple moving average is $128.26 and its 200 day simple moving average is $123.93. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The firm has a market capitalization of $171.92 billion, a PE ratio of 36.25, a PEG ratio of 2.11 and a beta of 0.60. 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 (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is presently 79.77%.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares of the company’s stock, valued at $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is currently 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.