RTX Co. (NYSE:RTX) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association lifted its stake in shares of RTX Co. (NYSE:RTXFree Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,133 shares of the company’s stock after buying an additional 1,326 shares during the quarter. TIAA Trust National Association’s holdings in RTX were worth $9,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Norges Bank acquired a new position in RTX in the fourth quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC boosted its holdings in RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after purchasing an additional 13,598,794 shares in the last quarter. Boston Partners acquired a new position in RTX in the third quarter valued at approximately $355,350,000. Morgan Stanley boosted its holdings in RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares in the last quarter. Finally, Capital World Investors boosted its holdings in RTX by 32.8% in the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.8 %

NYSE:RTX opened at $98.55 on Wednesday. The stock has a fifty day moving average price of $92.08 and a two-hundred day moving average price of $84.09. The stock has a market capitalization of $131.04 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91.

RTX (NYSE:RTXGet Free Report) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. As a group, sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 105.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RTX. UBS Group upped their price target on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price objective on shares of RTX in a report on Monday. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Barclays upped their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.12.

Get Our Latest Analysis on RTX

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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