NorthRock Partners LLC Increases Stock Position in RTX Co. (NYSE:RTX)

NorthRock Partners LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 207.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,998 shares of the company’s stock after acquiring an additional 17,543 shares during the period. NorthRock Partners LLC’s holdings in RTX were worth $3,008,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC grew its holdings in 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 buying an additional 576,214 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after acquiring an additional 603,159 shares during the period. Finally, Norges Bank purchased a new stake in shares of RTX in the fourth quarter valued at about $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

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

RTX (NYSE:RTX) last issued its 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 net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. As a group, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) is 79.77%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Susquehanna dropped their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. UBS Group lifted their target price on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $161.06.

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.