Pinnacle Financial Partners Inc Has $3.40 Million Stake in RTX Co. (NYSE:RTX)

Pinnacle Financial Partners Inc grew its holdings in RTX Co. (NYSE:RTX) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,129 shares of the company’s stock after purchasing an additional 633 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in RTX were worth $3,403,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX during the 3rd quarter worth about $29,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the third quarter worth about $41,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX during the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. UBS Group boosted their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.07.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by company insiders.

RTX Trading Down 1.5 %

RTX opened at $123.23 on Friday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The firm has a market cap of $164.16 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. 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 firm’s fifty day moving average is $121.49 and its two-hundred day moving average is $120.93.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio is presently 70.99%.

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.