RTX Co. (NYSE:RTX) Shares Purchased by Freemont Management S.A.

Freemont Management S.A. boosted its holdings in RTX Co. (NYSE:RTX) by 38.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 356,900 shares of the company’s stock after buying an additional 100,000 shares during the period. RTX makes up about 3.8% of Freemont Management S.A.’s investment portfolio, making the stock its 6th largest position. Freemont Management S.A.’s holdings in RTX were worth $30,030,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its position in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the period. Northern Trust Corp increased its position in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the period. Sanders Capital LLC increased its position in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, Norges Bank bought a new stake in shares of RTX during the fourth quarter valued at approximately $690,154,000. 86.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold 120,042 shares of company stock valued at $12,266,459 over the last 90 days. 0.13% of the stock is owned by company insiders.

RTX Price Performance

RTX stock traded up $0.86 on Friday, reaching $106.27. The company’s stock had a trading volume of 3,431,308 shares, compared to its average volume of 6,166,759. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market cap of $141.29 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 1.86 and a beta of 0.84. The business’s fifty day moving average price is $101.04 and its 200 day moving average price is $91.40. RTX Co. has a twelve month low of $68.56 and a twelve month high of $107.82.

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

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 98.82%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. UBS Group boosted their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America boosted their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Citigroup boosted their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, Barclays upped their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. 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. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $98.33.

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.