HM Payson & Co. Raises Stock Position in RTX Co. (NYSE:RTX)

HM Payson & Co. grew its holdings in RTX Co. (NYSE:RTX) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 188,789 shares of the company’s stock after purchasing an additional 1,509 shares during the quarter. HM Payson & Co.’s holdings in RTX were worth $21,847,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RTX. PNC Financial Services Group Inc. grew its holdings in RTX by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,379,443 shares of the company’s stock valued at $275,349,000 after purchasing an additional 163,339 shares in the last quarter. Camden National Bank grew its holdings in RTX by 44.6% during the 4th quarter. Camden National Bank now owns 3,773 shares of the company’s stock valued at $437,000 after purchasing an additional 1,163 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in RTX during the 4th quarter valued at $81,000. RKL Wealth Management LLC acquired a new stake in RTX during the 4th quarter valued at $312,000. Finally, Machina Capital S.A.S. acquired a new stake in RTX during the 4th quarter valued at $1,310,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Bank of America raised their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Up 0.3 %

RTX stock opened at $128.63 on Friday. RTX Co. has a 52 week low of $89.44 and a 52 week high of $135.36. The company has a market capitalization of $171.35 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm’s 50-day moving average is $123.78 and its two-hundred day moving average is $121.70. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings results 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 net margin of 5.91% and a return on equity of 12.45%. On average, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid 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 1.96%. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $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 79,831 shares of company stock valued at $10,309,302 in the last quarter. Insiders own 0.13% of the company’s stock.

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.