Investor s Fiduciary Advisor Network LLC Takes $318,000 Position in RTX Co. (NYSE:RTX)

Investor s Fiduciary Advisor Network LLC bought 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 institutional investor bought 2,754 shares of the company's stock, valued at approximately $318,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Franklin Resources Inc. raised its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares during the last quarter. Finally, Norges Bank bought a new position in shares of RTX during the fourth quarter worth about $1,745,644,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock traded up $0.10 during midday trading on Wednesday, hitting $130.82. The company's stock had a trading volume of 4,840,983 shares, compared to its average volume of 5,408,069. The stock's 50-day moving average price is $128.37 and its 200 day moving average price is $124.03. 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 Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The stock has a market cap of $174.77 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share 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 business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. On average, equities analysts forecast that RTX Co. will post 6.11 EPS for the current 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 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is currently 79.77%.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company'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 transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27% decrease in their position. The sale 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 company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 in the last 90 days. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RTX shares. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a report on Friday, April 25th. Finally, 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. Three investment 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 company's stock. According to data from MarketBeat.com, RTX currently has a consensus rating of "Buy" and a consensus price target of $159.82.

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.