Norges Bank Buys Shares of 15,085,070 RTX Co. (NYSE:RTX)

Norges Bank acquired a new position in shares of RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,085,070 shares of the company's stock, valued at approximately $1,745,644,000. Norges Bank owned 1.13% of RTX as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Caisse Des Depots ET Consignations acquired a new position in RTX during the fourth quarter valued at approximately $8,189,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in RTX by 0.9% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,952 shares of the company's stock worth $2,656,000 after purchasing an additional 198 shares in the last quarter. LM Advisors LLC lifted its stake in RTX by 8.3% in the fourth quarter. LM Advisors LLC now owns 3,052 shares of the company's stock valued at $353,000 after buying an additional 233 shares in the last quarter. Howe & Rusling Inc. boosted its holdings in shares of RTX by 2.6% in the fourth quarter. Howe & Rusling Inc. now owns 25,835 shares of the company's stock valued at $2,990,000 after buying an additional 643 shares during the period. Finally, AssuredPartners Investment Advisors LLC bought a new stake in shares of RTX during the fourth quarter worth $286,000. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock traded down $1.75 during trading on Friday, reaching $131.68. 3,934,907 shares of the company's stock were exchanged, compared to its average volume of 5,648,342. The firm's fifty day moving average price is $128.59 and its 200-day moving average price is $123.03. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17. The stock has a market capitalization of $175.81 billion, a PE ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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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%. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm'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 transaction of $1,813,226.13. Following the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the 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 in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. 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 owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. UBS Group upgraded RTX from a "neutral" rating to a "buy" rating in a research note on Monday, March 24th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $166.40.

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.