RTX Co. (NYSE:RTX) Shares Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co raised its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 41.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,726 shares of the company's stock after purchasing an additional 1,960 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in RTX were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in RTX during the 4th quarter valued at about $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its position in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after buying an additional 3,164,844 shares during the last quarter. Amundi increased its holdings in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after buying an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. raised its position in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after buying an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in RTX during the 4th quarter valued at approximately $216,340,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Trading Up 2.3 %

RTX stock opened at $130.30 on Friday. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The business's 50-day moving average is $128.48 and its 200 day moving average is $123.84. 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 stock has a market cap of $174.07 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 2.09%. RTX's payout ratio is presently 73.90%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company'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 completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now 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. In the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RTX shares. StockNews.com upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. UBS Group boosted their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. Vertical Research raised RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Buy" and a consensus price target of $161.06.

RTX Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.