Vanguard Group Inc. Raises Position in RTX Co. (NYSE:RTX)

Vanguard Group Inc. increased its stake in RTX Co. (NYSE:RTX - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,479,159 shares of the company's stock after purchasing an additional 1,252,448 shares during the quarter. Vanguard Group Inc. owned about 8.89% of RTX worth $13,710,408,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its position in 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 buying an additional 265 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in RTX in the fourth quarter worth approximately $39,000. Modus Advisors LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.9 %

NYSE:RTX traded up $1.15 on Tuesday, reaching $135.84. 3,987,290 shares of the stock traded hands, compared to its average volume of 5,370,216. The company's fifty day simple moving average is $127.48 and its 200 day simple moving average is $122.66. The company has a market capitalization of $181.36 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 12 month low of $95.27 and a 12 month high of $135.74. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

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RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal 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 given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.86%. RTX's dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and lifted their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Four equities 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.40.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction dated 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 owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.

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.