Farther Finance Advisors LLC Boosts Stake in RTX Co. (NYSE:RTX)

Farther Finance Advisors LLC increased its position in shares of RTX Co. (NYSE:RTX) by 48.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,524 shares of the company’s stock after buying an additional 17,248 shares during the quarter. Farther Finance Advisors LLC’s holdings in RTX were worth $6,078,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Charles Schwab Investment Management Inc. grew its position in RTX by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after buying an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp increased its stake in RTX by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after buying an additional 549,814 shares during the period. Finally, Amundi raised its position in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 0.3 %

Shares of RTX opened at $128.16 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $89.44 and a 1-year high of $135.36. The stock has a market cap of $170.73 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm has a 50 day simple moving average of $124.54 and a 200-day simple moving average of $121.97.

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

RTX Announces Dividend

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 issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. 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 ninety days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RTX shares. Morgan Stanley lifted their target price 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. Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

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.