Texas Bank & Trust Co Buys New Holdings in RTX Co. (NYSE:RTX)

Texas Bank & Trust Co bought a new stake in RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,472 shares of the company's stock, valued at approximately $1,096,000.

A number of other large investors have also modified their holdings of RTX. 1620 Investment Advisors Inc. boosted its holdings in shares of RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC boosted its holdings in shares of RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc boosted its holdings in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. boosted its holdings in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC boosted its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after purchasing an additional 81 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. 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. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $159.82.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm'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 transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm'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 transaction, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,946 shares of company stock valued at $9,024,856 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

RTX Stock Down 0.1%

Shares of NYSE:RTX opened at $135.37 on Friday. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.40. The firm has a market capitalization of $180.85 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.11 and a beta of 0.60. The stock has a 50 day moving average price of $128.66 and a 200-day moving average price of $124.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

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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