City National Bank of Florida MSD Invests $419,000 in RTX Co. (NYSE:RTX)

City National Bank of Florida MSD acquired a new stake in shares of RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,623 shares of the company's stock, valued at approximately $419,000.

Other institutional investors have also modified their holdings of the company. LaFleur & Godfrey LLC grew its position in shares of RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after acquiring an additional 900 shares during the period. Enclave Advisors LLC grew its position in shares of RTX by 5.5% during the 4th quarter. Enclave Advisors LLC now owns 3,898 shares of the company's stock valued at $451,000 after acquiring an additional 204 shares during the period. MCF Advisors LLC grew its position in shares of RTX by 0.9% during the 4th quarter. MCF Advisors LLC now owns 10,053 shares of the company's stock valued at $1,163,000 after acquiring an additional 87 shares during the period. Beaumont Financial Advisors LLC grew its position in shares of RTX by 2.1% during the 4th quarter. Beaumont Financial Advisors LLC now owns 11,660 shares of the company's stock valued at $1,349,000 after acquiring an additional 243 shares during the period. Finally, Simon Quick Advisors LLC grew its position in shares of RTX by 16.9% during the 4th quarter. Simon Quick Advisors LLC now owns 6,239 shares of the company's stock valued at $722,000 after acquiring an additional 901 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RTX. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a report on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, RTX has a consensus rating of "Buy" and a consensus target price of $159.82.

RTX Price Performance

Shares of RTX stock traded down $1.70 on Friday, hitting $132.38. 5,509,922 shares of the company were exchanged, compared to its average volume of 5,396,730. The stock has a market capitalization of $176.85 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a 50-day moving average price of $129.13 and a 200 day moving average price of $124.74. RTX Co. has a 1-year low of $99.07 and a 1-year high of $138.82. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts predict 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. Stockholders 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 2.05%. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is presently 79.77%.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares of the company's stock, valued at $3,771,880.44. The trade was a 39.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is currently 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.