The Manufacturers Life Insurance Company Increases Holdings in RTX Co. (NYSE:RTX)

The Manufacturers Life Insurance Company lifted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,377,769 shares of the company's stock after purchasing an additional 52,471 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of RTX worth $159,435,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RTX. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the period. Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter worth approximately $39,000. Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in RTX during the fourth quarter worth $40,000. Institutional investors own 86.50% of the company's stock.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last 90 days. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RTX shares. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Royal Bank of Canada lowered their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Citigroup decreased their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of "Buy" and a consensus target price of $161.06.

RTX Trading Up 2.3 %

RTX traded up $2.89 on Friday, hitting $130.30. 5,002,098 shares of the company were exchanged, compared to its average volume of 5,480,324. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a fifty day simple moving average of $128.42 and a two-hundred day simple moving average of $123.80. The stock has a market capitalization of $174.07 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17.

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

RTX Increases Dividend

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

RTX 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.