Investment Management Corp of Ontario boosted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,344 shares of the company's stock after purchasing an additional 5,084 shares during the quarter. Investment Management Corp of Ontario's holdings in RTX were worth $11,959,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares during the period. Geode Capital Management LLC increased its stake in shares of RTX by 3.7% in 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 holdings 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 buying an additional 576,214 shares during the last quarter. Franklin Resources Inc. boosted 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 buying an additional 603,159 shares during the period. Finally, Norges Bank bought a new position in RTX in the 4th quarter worth approximately $1,745,644,000. 86.50% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. UBS Group upped their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Three 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $161.06.
Read Our Latest Research Report on RTX
RTX Stock Performance
Shares of RTX stock opened at $128.69 on Friday. The stock has a market cap of $171.92 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $128.26 and a 200-day simple moving average of $123.91.
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, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.
RTX Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 2.11%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is 79.77%.
Insiders Place Their Bets
In other RTX 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 value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 approximately $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,946 shares of company stock valued at $9,024,856 in the last three months. Insiders own 0.15% of the company's stock.
About RTX
(
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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