Cullinan Associates Inc. Cuts Stock Position in RTX Co. (NYSE:RTX)

Cullinan Associates Inc. decreased its holdings in RTX Co. (NYSE:RTX) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,533 shares of the company’s stock after selling 2,300 shares during the period. Cullinan Associates Inc.’s holdings in RTX were worth $2,839,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in RTX in the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in RTX in the fourth quarter worth about $39,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the 3rd quarter worth approximately $41,000. ORG Wealth Partners LLC bought a new position in RTX in the 3rd quarter valued at approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RTX shares. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, 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. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Price Performance

RTX opened at $130.03 on Tuesday. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The firm has a market capitalization of $173.07 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.17 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. The business’s 50-day moving average is $119.37 and its two-hundred day moving average is $119.59.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts anticipate that RTX Co. will post 6.12 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

RTX Company 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.