Huntington National Bank Purchases 56,823 Shares of RTX Co. (NYSE:RTX)

Huntington National Bank grew its stake in RTX Co. (NYSE:RTX - Free Report) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 719,145 shares of the company's stock after buying an additional 56,823 shares during the quarter. Huntington National Bank owned 0.05% of RTX worth $83,219,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RTX. Vanguard Group Inc. grew its stake in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its position in RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC lifted its position in 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 buying an additional 576,214 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of RTX in the fourth quarter valued at about $1,745,644,000. Institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated 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 of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. This trade represents a 39.52 % 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 currently owned by insiders.

Remove Ads

RTX Price Performance

Shares of RTX stock traded up $0.45 on Wednesday, reaching $133.30. 3,349,299 shares of the stock were exchanged, compared to its average volume of 5,615,515. The firm's 50 day moving average is $129.13 and its 200-day moving average is $123.31. The firm has a market cap of $177.97 billion, a PE ratio of 37.55, a P/E/G ratio of 2.11 and a beta of 0.78. 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 one year low of $97.03 and a one year high of $136.17.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.89%. RTX's dividend payout ratio is currently 70.99%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Morgan Stanley boosted their price target on RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Four investment 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 company. According to data from MarketBeat.com, RTX 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.