National Bank of Canada FI Increases Stock Position in RTX Co. (NYSE:RTX)

National Bank of Canada FI grew its stake in RTX Co. (NYSE:RTX) by 17.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 519,666 shares of the company’s stock after acquiring an additional 77,647 shares during the period. National Bank of Canada FI’s holdings in RTX were worth $44,269,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RTX. Cary Street Partners Investment Advisory LLC grew its position in RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares in the last quarter. Mather Group LLC. raised its position in RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Rockline Wealth Management LLC purchased a new position in shares of RTX in the 4th quarter valued at about $2,438,000. B&D White Capital Company LLC purchased a new stake in shares of RTX during the third quarter worth approximately $14,186,000. Finally, PDS Planning Inc purchased a new stake in shares of RTX in the 4th quarter valued at approximately $356,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Insiders have sold a total of 137,842 shares of company stock worth $13,603,426 in the last quarter. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. Barclays increased their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $96.93.

RTX Price Performance

Shares of NYSE RTX traded up $0.56 during trading on Monday, reaching $101.96. The company had a trading volume of 1,444,561 shares, compared to its average volume of 8,086,745. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $135.56 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The stock has a 50-day moving average price of $96.70 and a two-hundred day moving average price of $88.60.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.47%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is presently 92.55%.

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.