Heartland Bank & Trust Co Buys Shares of 13,064 RTX Corporation (NYSE:RTX)

Heartland Bank & Trust Co purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,064 shares of the company's stock, valued at approximately $1,730,000. RTX accounts for about 0.9% of Heartland Bank & Trust Co's investment portfolio, making the stock its 25th biggest holding.

Several other institutional investors have also modified their holdings of the business. National Pension Service lifted its stake in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the period. Deutsche Bank AG lifted its position 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 acquiring an additional 936,953 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in RTX in the 4th quarter worth $3,356,000. Finally, Thoroughbred Financial Services LLC increased its holdings in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after purchasing an additional 7,987 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RTX shares. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Susquehanna decreased their price target 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. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Finally, Royal Bank Of Canada decreased their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.82.

RTX Stock Up 0.6%

Shares of RTX stock opened at $146.75 on Friday. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The stock has a market cap of $196.05 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 2.65 and a beta of 0.63. The firm's 50-day moving average is $133.43 and its 200-day moving average is $127.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last released 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 return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.85%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's 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 represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company 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.

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