First Trust Advisors LP Acquires 57,689 Shares of RTX Co. (NYSE:RTX)

First Trust Advisors LP grew its position in RTX Co. (NYSE:RTX - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 601,957 shares of the company's stock after purchasing an additional 57,689 shares during the period. First Trust Advisors LP's holdings in RTX were worth $69,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of RTX in the fourth quarter worth $1,745,644,000. Amundi increased its stake in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after buying an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after buying an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC bought a new position in shares of RTX in the 4th quarter valued at about $216,340,000. Finally, Invesco Ltd. increased its position in shares of RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after acquiring an additional 1,522,251 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RTX. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and raised their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Susquehanna dropped their price objective on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of "Buy" and a consensus target price of $163.53.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX 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 directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. Insiders own 0.15% of the company's stock.

RTX Price Performance

RTX traded up $6.75 on Wednesday, hitting $120.50. 10,455,293 shares of the stock were exchanged, compared to its average volume of 5,525,686. The firm has a market capitalization of $160.88 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.11 and a beta of 0.58. 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 12 month low of $99.07 and a 12 month high of $136.17. The business has a 50-day moving average of $128.33 and a two-hundred day moving average of $123.77.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

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.