RTX Co. (NYSE:RTX) Stake Lifted by Zacks Investment Management

Zacks Investment Management lifted its stake in RTX Co. (NYSE:RTX - Free Report) by 36.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,753 shares of the company's stock after purchasing an additional 58,943 shares during the period. Zacks Investment Management's holdings in RTX were worth $25,661,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in RTX in the 4th quarter valued at about $1,745,644,000. Amundi lifted its stake 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 during the period. Assenagon Asset Management S.A. grew its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the period. Capital Wealth Planning LLC purchased a new position in shares of RTX during the 4th quarter worth $216,340,000. Finally, Invesco Ltd. grew its position in shares of RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on RTX shares. Deutsche Bank Aktiengesellschaft upgraded RTX from a "hold" rating to a "buy" rating and lifted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. StockNews.com cut RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Finally, Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $165.27.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of NYSE RTX traded down $2.64 during midday trading on Monday, hitting $126.25. The company's stock had a trading volume of 1,429,007 shares, compared to its average volume of 5,449,371. The firm has a market cap of $168.56 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.11 and a beta of 0.58. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The firm's fifty day moving average price is $128.59 and its 200-day moving average price is $123.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, February 21st. RTX's payout ratio is 70.99%.

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.