RTX Co. (NYSE:RTX) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in RTX Co. (NYSE:RTX) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,264,502 shares of the company’s stock after purchasing an additional 1,000,722 shares during the quarter. Geode Capital Management LLC’s holdings in RTX were worth $3,263,610,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of RTX during the third quarter valued at $405,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in RTX during the third quarter valued at about $2,169,000. Tradition Wealth Management LLC increased its position in shares of RTX by 1.8% in the third quarter. Tradition Wealth Management LLC now owns 5,071 shares of the company’s stock worth $614,000 after acquiring an additional 91 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of RTX in the 3rd quarter valued at approximately $102,000. Finally, Benjamin Edwards Inc. boosted its stake in RTX by 729.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 80,803 shares of the company’s stock worth $9,793,000 after purchasing an additional 71,064 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of NYSE:RTX opened at $132.56 on Tuesday. The company has a market cap of $176.97 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.11 and a beta of 0.78. The business has a 50 day moving average price of $128.82 and a 200 day moving average price of $123.15. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17.

RTX (NYSE:RTX) last posted its quarterly earnings data 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%. Research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.90%. RTX’s dividend payout ratio is 70.99%.

Insider Activity

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction 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 in the company, valued at approximately $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, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $166.40.

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.