Delta Asset Management LLC TN Reduces Stake in RTX Co. (NYSE:RTX)

Delta Asset Management LLC TN lowered its holdings in RTX Co. (NYSE:RTX) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 132,003 shares of the company’s stock after selling 765 shares during the quarter. RTX comprises 1.1% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 26th biggest holding. Delta Asset Management LLC TN’s holdings in RTX were worth $11,107,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of RTX in the 4th quarter valued at approximately $690,154,000. Massachusetts Financial Services Co. MA increased its stake in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Boston Partners purchased a new position in RTX during the third quarter worth $355,350,000. Van ECK Associates Corp increased its position in RTX by 129.9% during the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after buying an additional 2,294,908 shares in the last quarter. Finally, Sanders Capital LLC increased its position in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,042 shares of company stock worth $12,266,459. Insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX traded up $0.88 during trading on Wednesday, reaching $106.31. The stock had a trading volume of 3,625,661 shares, compared to its average volume of 7,839,217. The firm has a market capitalization of $141.34 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 1-year low of $68.56 and a 1-year high of $107.82. The stock has a 50 day moving average of $100.19 and a two-hundred day moving average of $90.91.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 98.82%.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company boosted their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Bank of America boosted their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Susquehanna lifted their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $98.33.

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.