Cannell & Spears LLC Has $15.57 Million Holdings in RTX Co. (NYSE:RTX)

Cannell & Spears LLC reduced its position in RTX Co. (NYSE:RTX) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,582 shares of the company’s stock after selling 3,784 shares during the period. Cannell & Spears LLC’s holdings in RTX were worth $15,574,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RTX. Vanguard Group Inc. raised its stake in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. Geode Capital Management LLC lifted its stake in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC boosted its position in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the period. Norges Bank purchased a new position in RTX during the 4th quarter valued at about $1,745,644,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of RTX by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after purchasing an additional 151,474 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RTX shares. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. 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 company’s stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Down 1.3 %

Shares of NYSE RTX opened at $131.68 on Monday. The company has a market cap of $175.81 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. 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 50-day moving average price of $128.59 and a two-hundred day moving average price of $123.06. RTX Co. has a 12 month low of $97.03 and a 12 month high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. As a group, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

RTX 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.