Freedom Investment Management Inc. Purchases 2,055 Shares of RTX Co. (NYSE:RTX)

Freedom Investment Management Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 58.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,563 shares of the company's stock after purchasing an additional 2,055 shares during the quarter. Freedom Investment Management Inc.'s holdings in RTX were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in RTX. Vanguard Group Inc. grew its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after buying an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of RTX by 3.1% during the 4th 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. Franklin Resources Inc. increased its holdings in RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Finally, Norges Bank acquired a new position in RTX during the fourth quarter worth $1,745,644,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of RTX traded up $6.76 during trading hours on Wednesday, hitting $120.51. The stock had a trading volume of 5,121,951 shares, compared to its average volume of 5,505,687. The company's fifty day moving average is $128.33 and its two-hundred day moving average is $123.77. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. The stock has a market capitalization of $160.89 billion, a price-to-earnings ratio of 33.95, a P/E/G 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 (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RTX. Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. UBS Group upped their price target on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday. Finally, StockNews.com lowered RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $164.20.

Insider Buying and Selling at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the 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 sale, the insider now directly owns 5,272 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction 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 represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company's stock.

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.