Townsend & Associates Inc lifted its holdings in RTX Co. (NYSE:RTX - Free Report) by 68.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,674 shares of the company's stock after buying an additional 67,594 shares during the period. RTX makes up approximately 1.8% of Townsend & Associates Inc's portfolio, making the stock its 17th biggest holding. Townsend & Associates Inc's holdings in RTX were worth $14,826,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Bear Mountain Capital Inc. purchased a new position in RTX in the fourth quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new position in shares of RTX during the 4th quarter valued at $30,000. Strengthening Families & Communities LLC bought a new position in shares of RTX during the 3rd quarter worth $28,000. Financial Gravity Asset Management Inc. increased its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company's stock worth $32,000 after acquiring an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in RTX in the 4th quarter valued at about $38,000. 86.50% of the stock is owned by institutional investors.
Analyst Ratings Changes
RTX has been the subject of several recent research reports. UBS Group lifted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 24th. Robert W. Baird boosted their target price on shares of RTX from $94.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Citigroup lifted their price target on RTX from $95.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the stock a "positive" rating in a report on Wednesday, April 24th. Finally, Barclays raised their target price on RTX from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $96.93.
Check Out Our Latest Stock Report on RTX
Insider Buying and Selling at RTX
In other news, insider Shane G. Eddy sold 35,456 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the business's stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold 135,618 shares of company stock worth $13,397,978 over the last ninety days. Insiders own 0.13% of the company's stock.
RTX Price Performance
Shares of NYSE:RTX traded up $1.79 during trading on Thursday, reaching $105.73. The company had a trading volume of 7,210,085 shares, compared to its average volume of 8,055,303. The company has a fifty day moving average of $97.48 and a two-hundred day moving average of $89.21. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $140.57 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a 12 month low of $68.56 and a 12 month high of $105.76.
RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion for the quarter, compared to analysts' expectations of $18.44 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.
RTX Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.38%. This is a positive change from RTX's previous quarterly dividend of $0.59. RTX's dividend payout ratio is currently 92.55%.
RTX Profile
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Free Report)
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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