RTX Co. (NYSE:RTX) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 8.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,533 shares of the company’s stock after selling 2,300 shares during the quarter. Cullinan Associates Inc.’s holdings in RTX were worth $2,839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Czech National Bank raised its position in shares of RTX by 7.0% during the 3rd quarter. Czech National Bank now owns 270,983 shares of the company’s stock valued at $32,832,000 after buying an additional 17,645 shares during the period. GAMMA Investing LLC raised its stake in shares of RTX by 29.7% in the 3rd quarter. GAMMA Investing LLC now owns 26,341 shares of the company’s stock valued at $3,191,000 after acquiring an additional 6,036 shares during the period. Diversified Trust Co boosted its position in shares of RTX by 10.1% during the 3rd quarter. Diversified Trust Co now owns 36,714 shares of the company’s stock worth $4,448,000 after purchasing an additional 3,365 shares during the period. Eagle Rock Investment Company LLC purchased a new stake in RTX in the third quarter valued at approximately $220,000. Finally, Miracle Mile Advisors LLC lifted its stake in RTX by 4.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 19,844 shares of the company’s stock worth $2,404,000 after acquiring an additional 900 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RTX shares. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley increased their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. UBS Group lifted their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

NYSE RTX opened at $130.03 on Tuesday. The company has a 50 day moving average price of $119.37 and a two-hundred day moving average price of $119.59. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The stock has a market capitalization of $173.07 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its 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 net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts predict that RTX Co. will post 6.12 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

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.