Norinchukin Bank The Purchases 6,610 Shares of RTX Co. (NYSE:RTX)

Norinchukin Bank The boosted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,868 shares of the company's stock after purchasing an additional 6,610 shares during the period. Norinchukin Bank The's holdings in RTX were worth $7,275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RTX. 1620 Investment Advisors Inc. raised its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after buying an additional 79 shares during the period. Fusion Capital LLC grew its stake in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after acquiring an additional 80 shares in the last quarter. McDonough Capital Management Inc lifted its position in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. grew its position in RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its stake in RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction on Thursday, February 27th. The shares were 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 directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

Shares of NYSE:RTX traded up $6.46 on Wednesday, hitting $120.21. 6,601,373 shares of the company were exchanged, compared to its average volume of 5,510,991. The company's 50 day moving average price is $128.33 and its two-hundred day moving average price is $123.77. The firm has a market capitalization of $160.49 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 2.11 and a beta of 0.58. 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 Co. has a one year low of $99.07 and a one year high of $136.17.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $19.80 billion. Research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. boosted their price target on RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research report on Wednesday. UBS Group boosted their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $163.53.

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.