RTX Co. (NYSE:RTX) Shares Purchased by LGT Group Foundation

LGT Group Foundation increased its position in shares of RTX Co. (NYSE:RTX) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,240 shares of the company’s stock after acquiring an additional 1,025 shares during the quarter. LGT Group Foundation’s holdings in RTX were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in RTX in the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new stake in RTX in the 3rd quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC raised its holdings in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RTX. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Bank of America boosted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.13% of the stock is owned by corporate insiders.

RTX Stock Performance

Shares of RTX stock opened at $133.68 on Tuesday. RTX Co. has a one year low of $89.14 and a one year high of $135.36. The company has a market cap of $178.08 billion, a PE ratio of 37.66, a P/E/G 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 business has a 50-day simple moving average of $123.06 and a 200-day simple moving average of $121.52.

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

RTX Dividend Announcement

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

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.