Elefante Mark B Acquires New Shares in RTX Co. (NYSE:RTX)

Elefante Mark B bought a new position in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,713 shares of the company's stock, valued at approximately $2,628,000. RTX comprises 2.4% of Elefante Mark B's holdings, making the stock its 21st biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Ethic Inc. lifted its position in shares of RTX by 191.5% during the 4th quarter. Ethic Inc. now owns 34,773 shares of the company's stock valued at $4,024,000 after buying an additional 22,846 shares in the last quarter. Family Management Corp raised its stake in RTX by 8.9% during the fourth quarter. Family Management Corp now owns 3,584 shares of the company's stock worth $415,000 after purchasing an additional 294 shares during the period. Clark Capital Management Group Inc. raised its stake in RTX by 2.7% during the fourth quarter. Clark Capital Management Group Inc. now owns 10,599 shares of the company's stock worth $1,226,000 after purchasing an additional 281 shares during the period. Deutsche Bank AG raised its holdings in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in RTX by 0.3% in the 4th quarter. EP Wealth Advisors LLC now owns 567,351 shares of the company's stock valued at $65,654,000 after buying an additional 1,432 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RTX shares. Bank of America boosted their price objective on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com raised shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Royal Bank of Canada cut their price target on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Finally, Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of "Buy" and a consensus price target of $161.06.

RTX Stock Up 0.0%

NYSE:RTX traded up $0.02 during trading hours on Friday, reaching $128.69. The company's stock had a trading volume of 4,857,374 shares, compared to its average volume of 5,413,352. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business's 50-day moving average is $128.26 and its 200-day moving average is $123.90. The company has a market cap of $171.92 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a one year low of $99.07 and a one year high of $136.17.

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

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This represents a 25.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company's stock, valued at $664,008.40. This represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,946 shares of company stock worth $9,024,856 in the last 90 days. 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.