Franklin Resources Inc. Increases Stock Position in RTX Co. (NYSE:RTX)

Franklin Resources Inc. boosted its holdings in RTX Co. (NYSE:RTX - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,611,341 shares of the company's stock after acquiring an additional 603,159 shares during the quarter. Franklin Resources Inc. owned 1.25% of RTX worth $1,922,264,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Modus Advisors LLC acquired a new stake in RTX during the 4th quarter valued at $39,000. Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in RTX during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. UBS Group raised shares of RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and an average target price of $166.40.

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RTX Stock Performance

RTX stock traded up $0.39 during trading hours on Tuesday, reaching $132.85. The stock had a trading volume of 4,798,756 shares, compared to its average volume of 5,629,088. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $128.82 and a 200 day simple moving average of $123.15. The stock has a market capitalization of $177.36 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17.

RTX (NYSE:RTX - Get Free Report) last issued 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 net margin of 5.91% and a return on equity of 12.45%. Analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company 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. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.90%. RTX's payout ratio is currently 70.99%.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company's stock, 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 sold 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.15% of the stock is owned by company insiders.

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.