Chevy Chase Trust Holdings LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Chevy Chase Trust Holdings LLC trimmed its position in RTX Co. (NYSE:RTX) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 709,732 shares of the company’s stock after selling 15,318 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in RTX were worth $82,130,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CX Institutional lifted its holdings in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after buying an additional 11,706 shares during the period. LRI Investments LLC lifted its stake in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new stake in shares of RTX during the 3rd quarter worth $1,307,000. Czech National Bank lifted its stake in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp lifted its stake in shares of RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 0.7 %

Shares of RTX stock opened at $125.95 on Friday. The stock has a 50 day moving average of $120.70 and a 200 day moving average of $120.57. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $167.78 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

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 2.00%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Susquehanna upped their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. UBS Group upped their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Bank of America upped 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. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.