RTX Co. (NYSE:RTX) Stake Boosted by Connors Investor Services Inc.

Connors Investor Services Inc. increased its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,781 shares of the company's stock after buying an additional 3,520 shares during the period. RTX comprises 1.5% of Connors Investor Services Inc.'s portfolio, making the stock its 24th largest holding. Connors Investor Services Inc.'s holdings in RTX were worth $16,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in RTX in the fourth quarter valued at $1,745,644,000. T. Rowe Price Investment Management Inc. grew its stake in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Amundi increased its holdings in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after acquiring an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. raised its position in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $216,340,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 2.3 %

Shares of NYSE RTX traded up $2.89 on Friday, hitting $130.30. The company had a trading volume of 5,002,098 shares, compared to its average volume of 5,480,325. 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 Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The firm has a market capitalization of $174.07 billion, a P/E ratio of 36.70, a PEG ratio of 2.11 and a beta of 0.58. The business has a 50 day moving average of $128.48 and a two-hundred day moving average of $123.84.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 2.09%. RTX's payout ratio is 73.90%.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. Susquehanna dropped their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $161.06.

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.