ProShare Advisors LLC Boosts Position in RTX Co. (NYSE:RTX)

ProShare Advisors LLC boosted its holdings in RTX Co. (NYSE:RTX - Free Report) by 14.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 192,663 shares of the company's stock after buying an additional 24,168 shares during the period. ProShare Advisors LLC's holdings in RTX were worth $22,295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of RTX by 1.1% during 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 period. Geode Capital Management LLC raised its stake 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 valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC raised its stake 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 valued at $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. raised its stake 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 valued at $1,922,264,000 after purchasing an additional 603,159 shares during the period. Finally, Norges Bank purchased a new stake in shares of RTX during the fourth quarter valued at approximately $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX opened at $135.37 on Friday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.40. The company has a market cap of $180.85 billion, a price-to-earnings ratio of 38.13, 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 quick ratio of 0.74 and a current ratio of 0.99. The firm has a fifty day moving average of $128.66 and a 200-day moving average of $124.19.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current 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 paid a dividend of $0.68 per share. This is a boost from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, May 23rd. RTX's payout ratio is currently 79.77%.

Insider Activity at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,946 shares of company stock worth $9,024,856 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RTX. StockNews.com upgraded shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Susquehanna dropped their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Three 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $159.82.

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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