Bedell Frazier Investment Counselling LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Bedell Frazier Investment Counselling LLC lessened its position in RTX Co. (NYSE:RTX) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,511 shares of the company’s stock after selling 1,571 shares during the quarter. RTX comprises 1.4% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 21st largest position. Bedell Frazier Investment Counselling LLC’s holdings in RTX were worth $5,729,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in RTX during the third quarter worth about $405,000. Freedom Investment Management Inc. increased its holdings in shares of RTX by 37.7% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,508 shares of the company’s stock worth $425,000 after buying an additional 960 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of RTX by 13.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 58,013 shares of the company’s stock valued at $7,029,000 after buying an additional 6,900 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in RTX in the third quarter valued at approximately $2,169,000. Finally, Edgestream Partners L.P. grew its position in RTX by 323.1% in the third quarter. Edgestream Partners L.P. now owns 33,942 shares of the company’s stock worth $4,112,000 after acquiring an additional 25,920 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Down 1.3 %

RTX stock opened at $131.68 on Monday. The stock’s 50 day moving average price is $128.59 and its 200 day moving average price is $123.06. The company has a market cap of $175.81 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $97.03 and a 1-year high of $136.17.

RTX (NYSE:RTX) last released its quarterly 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 return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.91%. RTX’s payout ratio is currently 70.99%.

Analysts Set New Price Targets

Several equities analysts have recently commented on RTX shares. Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada lifted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

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.