Franklin Street Advisors Inc. NC Raises Position in RTX Co. (NYSE:RTX)

Franklin Street Advisors Inc. NC increased its position in shares of RTX Co. (NYSE:RTX) by 456.9% in the 4th quarter, HoldingsChannel reports. The firm owned 57,475 shares of the company’s stock after purchasing an additional 47,155 shares during the period. Franklin Street Advisors Inc. NC’s holdings in RTX were worth $4,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ocean Capital Management LLC raised its stake in shares of RTX by 123.7% during the 4th quarter. Ocean Capital Management LLC now owns 18,161 shares of the company’s stock worth $1,528,000 after buying an additional 10,041 shares in the last quarter. Uncommon Cents Investing LLC grew its holdings in RTX by 0.9% during the fourth quarter. Uncommon Cents Investing LLC now owns 57,044 shares of the company’s stock worth $4,800,000 after acquiring an additional 485 shares during the period. AMI Investment Management Inc. raised its position in RTX by 4.8% in the fourth quarter. AMI Investment Management Inc. now owns 37,439 shares of the company’s stock worth $3,150,000 after acquiring an additional 1,721 shares in the last quarter. Peak Financial Management Inc. lifted its holdings in RTX by 2.3% in the fourth quarter. Peak Financial Management Inc. now owns 6,250 shares of the company’s stock valued at $526,000 after acquiring an additional 142 shares during the period. Finally, Ballast Inc. boosted its position in shares of RTX by 2.2% during the 4th quarter. Ballast Inc. now owns 11,728 shares of the company’s stock worth $987,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by company insiders.

RTX Trading Up 0.1 %

Shares of RTX opened at $97.56 on Friday. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The company has a market capitalization of $129.72 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The stock has a fifty day moving average of $91.41 and a two-hundred day moving average of $83.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. RTX’s dividend payout ratio is presently 105.36%.

Analyst Ratings Changes

RTX has been the subject of a number of research analyst reports. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. UBS Group upped their target price on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Barclays lifted their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Robert W. Baird restated a “neutral” rating and set a $94.00 target price (up from $88.00) on shares of RTX in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $95.12.

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.