MainStreet Investment Advisors LLC Acquires 1,082 Shares of RTX Co. (NYSE:RTX)

MainStreet Investment Advisors LLC grew its holdings in RTX Co. (NYSE:RTX) by 40.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,738 shares of the company’s stock after purchasing an additional 1,082 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in RTX were worth $433,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after acquiring an additional 1,252,448 shares during the period. Geode Capital Management LLC raised its position in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares during the period. Fisher Asset Management LLC raised its position in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after acquiring an additional 576,214 shares during the period. Franklin Resources Inc. raised its position in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the period. Finally, Norges Bank acquired a new stake in shares of RTX in the 4th quarter valued at approximately $1,745,644,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $130.77 on Wednesday. The business’s 50 day simple moving average is $128.33 and its 200 day simple moving average is $123.98. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The stock has a market capitalization of $174.70 billion, a PE ratio of 36.84, a PEG ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued its quarterly 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 analyst estimates of $19.80 billion. As a group, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. 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. RTX’s dividend payout ratio is presently 79.77%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Finally, DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $161.06.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 over the last ninety days. 0.15% of the stock is owned by company insiders.

About RTX

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.