RTX Co. (NYSE:RTX) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in RTX Co. (NYSE:RTX) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,611,341 shares of the company’s stock after buying an additional 603,159 shares during the period. Franklin Resources Inc.’s holdings in RTX were worth $1,922,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Fairway Wealth LLC acquired a new stake in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new stake in RTX during the 4th quarter worth about $39,000. Millstone Evans Group LLC acquired a new position in shares of RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RTX shares. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Royal Bank of Canada increased their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $131.68 on Monday. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. The firm has a market capitalization of $175.81 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company’s 50 day moving average price is $128.59 and its two-hundred day moving average price is $123.06.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity 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 transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last three months. Company insiders own 0.15% of the company’s stock.

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.