Hickory Point Bank & Trust Invests $292,000 in RTX Co. (NYSE:RTX)

Hickory Point Bank & Trust purchased a new position in shares of RTX Co. (NYSE:RTX) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,522 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its stake in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in RTX by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after acquiring an additional 549,814 shares in the last quarter. FMR LLC lifted its stake in RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after acquiring an additional 140,697 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s 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 sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade 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 worth $4,639,194 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RTX shares. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Susquehanna increased their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

Shares of NYSE RTX opened at $133.02 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.95 and a fifty-two week high of $133.09. The firm 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. The stock’s 50-day simple moving average is $122.72 and its 200-day simple moving average is $121.38.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. RTX’s payout ratio 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.