Allstate Corp Purchases Shares of 39,424 RTX Co. (NYSE:RTX)

Allstate Corp purchased a new stake in shares of RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,424 shares of the company's stock, valued at approximately $4,562,000.

Other institutional investors have also recently bought and sold shares of the company. Level Four Advisory Services LLC boosted its stake in shares of RTX by 6.0% in the 4th quarter. Level Four Advisory Services LLC now owns 27,380 shares of the company's stock valued at $3,168,000 after purchasing an additional 1,546 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in RTX by 3.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 108,267 shares of the company's stock valued at $12,529,000 after acquiring an additional 3,173 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in RTX by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 399,825 shares of the company's stock worth $46,268,000 after acquiring an additional 1,557 shares during the period. Broadway Wealth Solutions Inc. bought a new stake in shares of RTX during the 4th quarter valued at $1,208,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of RTX in the 4th quarter valued at $1,754,000. Institutional investors own 86.50% of the company's stock.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company's 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 directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.

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RTX Stock Up 0.2 %

RTX stock traded up $0.28 during midday trading on Tuesday, reaching $132.74. The stock had a trading volume of 1,365,328 shares, compared to its average volume of 4,986,576. The stock has a market capitalization of $177.21 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm's fifty day simple moving average is $128.82 and its 200-day simple moving average is $123.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 1-year low of $97.03 and a 1-year high of $136.17.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Four investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.40.

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.