Northern Trust Corp Acquires 997,806 Shares of RTX Co. (NYSE:RTX)

Northern Trust Corp raised its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,912,698 shares of the company's stock after purchasing an additional 997,806 shares during the period. Northern Trust Corp owned 0.97% of RTX worth $1,494,257,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter worth $39,000. Modus Advisors LLC bought a new stake in shares of RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the fourth quarter valued at approximately $40,000. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. StockNews.com raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $161.06.

RTX Price Performance

Shares of NYSE:RTX traded up $0.40 during midday trading on Wednesday, hitting $126.13. 5,672,484 shares of the stock were exchanged, compared to its average volume of 5,505,295. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.17. The stock has a market cap of $168.50 billion, a P/E ratio of 35.53, a PEG ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $128.37 and a 200-day moving average price of $123.78.

RTX (NYSE:RTX - Get Free Report) last released its earnings results 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. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is presently 73.90%.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company's stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Corporate 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.