Minot DeBlois Advisors LLC Invests $827,000 in RTX Co. (NYSE:RTX)

Minot DeBlois Advisors LLC bought a new position in shares of RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,144 shares of the company's stock, valued at approximately $827,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RTX. Norges Bank acquired a new stake in shares of RTX during the fourth quarter worth $1,745,644,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of 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 valued at $1,216,063,000 after buying an additional 3,164,844 shares in the last quarter. Amundi grew its holdings in shares of RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock valued at $286,845,000 after buying an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC purchased a new position in shares of RTX during the fourth quarter valued at $216,340,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. The trade was a 25.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business'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 transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,946 shares of company stock valued at $9,024,856 over the last quarter. Insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX opened at $130.65 on Tuesday. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The business's 50-day moving average price is $128.28 and its two-hundred day moving average price is $123.94. The company has a market capitalization of $174.54 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share 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 company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America lifted their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Vertical Research upgraded RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $161.06.

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.

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