HTLF Bank Buys Shares of 91,479 RTX Co. (NYSE:RTX)

HTLF Bank bought a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 91,479 shares of the company’s stock, valued at approximately $7,697,000. RTX comprises about 0.9% of HTLF Bank’s investment portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Norges Bank purchased a new position in RTX in the fourth quarter valued at about $1,580,608,000. Northern Trust Corp grew its stake in RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after purchasing an additional 13,598,794 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RTX shares. UBS Group raised their price target on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Barclays raised their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Royal Bank of Canada raised their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.44.

RTX Stock Performance

NYSE:RTX traded up $1.29 during trading hours on Friday, reaching $102.00. The company had a trading volume of 1,830,957 shares, compared to its average volume of 8,155,745. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.32. The firm has a market cap of $135.62 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The business’s 50 day moving average price is $94.33 and its 200-day moving average price is $86.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

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.