Flputnam Investment Management Co. Grows Position in RTX Co. (NYSE:RTX)

Flputnam Investment Management Co. grew its stake in shares of RTX Co. (NYSE:RTX) by 9.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 76,883 shares of the company’s stock after acquiring an additional 6,819 shares during the period. Flputnam Investment Management Co.’s holdings in RTX were worth $8,897,000 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 the stock. SteelPeak Wealth LLC lifted its position in shares of RTX by 2.0% during the 3rd quarter. SteelPeak Wealth LLC now owns 4,861 shares of the company’s stock valued at $589,000 after acquiring an additional 93 shares during the period. Goldstone Financial Group LLC purchased a new position in RTX in the 3rd quarter valued at approximately $275,000. AustralianSuper Pty Ltd raised its holdings in RTX by 15.4% during the third quarter. AustralianSuper Pty Ltd now owns 22,247 shares of the company’s stock worth $2,695,000 after purchasing an additional 2,975 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in RTX by 0.7% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 240,519 shares of the company’s stock worth $29,141,000 after purchasing an additional 1,751 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in RTX by 6.9% in the third quarter. Principal Securities Inc. now owns 30,926 shares of the company’s stock valued at $3,747,000 after purchasing an additional 2,008 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Susquehanna increased their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,334 shares of company stock valued at $4,639,194 in the last three months. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $133.02 on Friday. The business’s 50-day moving average price is $122.72 and its 200 day moving average price is $121.35. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $88.95 and a twelve month high of $133.09. The company has a market capitalization of $177.19 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.