3,130 Shares in RTX Co. (NYSE:RTX) Bought by South Plains Financial Inc.

South Plains Financial Inc. acquired a new position in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,130 shares of the company's stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morse Asset Management Inc bought a new stake in RTX in the 3rd quarter worth approximately $321,000. World Investment Advisors LLC increased its stake in RTX by 37.1% during the third quarter. World Investment Advisors LLC now owns 40,809 shares of the company's stock worth $4,944,000 after acquiring an additional 11,033 shares during the last quarter. Tidal Investments LLC raised its position in RTX by 22.3% during the third quarter. Tidal Investments LLC now owns 31,671 shares of the company's stock valued at $3,837,000 after purchasing an additional 5,767 shares during the period. DGS Capital Management LLC purchased a new stake in RTX during the 3rd quarter valued at $213,000. Finally, Lord Abbett & CO. LLC boosted its stake in shares of RTX by 7.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 537,476 shares of the company's stock worth $65,121,000 after purchasing an additional 38,081 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Vertical Research raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, RTX currently has a consensus rating of "Buy" and an average price target of $161.06.

RTX Stock Performance

RTX traded up $0.30 on Wednesday, reaching $128.46. The company had a trading volume of 851,547 shares, compared to its average volume of 5,418,902. The stock has a market capitalization of $171.61 billion, a PE ratio of 36.18, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The stock has a 50-day moving average price of $128.46 and a 200-day moving average price of $123.86.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating 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 business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal 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 an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend payout ratio is presently 79.77%.

Insider Activity

In related 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 $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,800 shares of company stock valued at $8,496,076. 0.15% of the stock is currently owned by company insiders.

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.