Mechanics Financial Corp Raises Stock Position in RTX Co. (NYSE:RTX)

Mechanics Financial Corp lifted its position in RTX Co. (NYSE:RTX - Free Report) by 360.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,210 shares of the company's stock after acquiring an additional 4,860 shares during the quarter. Mechanics Financial Corp's holdings in RTX were worth $719,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CX Institutional boosted its position in RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after buying an additional 11,706 shares during the period. National Pension Service increased its holdings in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock worth $330,910,000 after purchasing an additional 375,781 shares during the period. LRI Investments LLC raised its position in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company's stock valued at $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Czech National Bank grew its position in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company's stock worth $33,396,000 after buying an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp increased its stake in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock valued at $610,000 after buying an additional 4,151 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research firms have recently commented on RTX. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Wells Fargo & Company upped their price objective on RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised 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. Citigroup raised shares of RTX from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Four 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $166.40.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % 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 worth $10,309,302 in the last three months. Company insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE RTX traded up $0.17 on Tuesday, hitting $132.63. 1,547,890 shares of the company's stock traded hands, compared to its average volume of 5,631,809. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm's 50-day moving average price is $128.82 and its two-hundred day moving average price is $123.15. RTX Co. has a 1-year low of $97.03 and a 1-year high of $136.17. The firm has a market capitalization of $177.07 billion, a PE ratio of 37.36, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate 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 expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 1.90%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is 70.99%.

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.