Hartford Investment Management Co. Sells 1,495 Shares of RTX Co. (NYSE:RTX)

Hartford Investment Management Co. cut its stake in shares of RTX Co. (NYSE:RTX) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,256 shares of the company’s stock after selling 1,495 shares during the quarter. Hartford Investment Management Co.’s holdings in RTX were worth $9,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. FMR LLC boosted its stake in shares of RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of RTX by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after purchasing an additional 140,697 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of RTX by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock valued at $342,886,000 after purchasing an additional 25,407 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. UBS Group boosted their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Price Performance

RTX opened at $129.01 on Wednesday. The firm has a market cap of $171.86 billion, a P/E ratio of 36.34, a PEG ratio of 2.17 and a beta of 0.82. The firm has a 50-day moving average of $120.40 and a 200 day moving average of $120.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43.

RTX (NYSE:RTX) last issued its earnings results 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%. On average, research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. RTX’s dividend payout ratio is presently 70.99%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.