Leigh Baldwin & CO. LLC Takes $320,000 Position in RTX Co. (NYSE:RTX)

Leigh Baldwin & CO. LLC acquired a new position in shares of RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,766 shares of the company's stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of RTX in the fourth quarter valued at about $1,745,644,000. T. Rowe Price Investment Management Inc. grew its holdings in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the period. Amundi lifted its holdings in RTX by 83.1% in the fourth 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 during the period. Capital Wealth Planning LLC purchased a new stake in shares of RTX during the 4th quarter worth $216,340,000. Finally, Invesco Ltd. grew its stake in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RTX. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a report on Friday, April 25th. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, RTX presently has a consensus rating of "Buy" and an average target price of $159.82.

RTX Stock Performance

NYSE:RTX traded up $1.61 during trading hours on Friday, reaching $136.41. 1,870,162 shares of the stock were exchanged, compared to its average volume of 5,378,818. RTX Co. has a 52 week low of $99.07 and a 52 week high of $139.92. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $182.24 billion, a P/E ratio of 38.41, a P/E/G ratio of 2.11 and a beta of 0.60. The firm has a 50 day simple moving average of $129.08 and a 200-day simple moving average of $125.03.

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

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

About RTX

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.