Conning Inc. Buys 2,181 Shares of RTX Co. (NYSE:RTX)

Conning Inc. lifted its stake in shares of RTX Co. (NYSE:RTX) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 319,640 shares of the company’s stock after acquiring an additional 2,181 shares during the quarter. RTX makes up approximately 1.3% of Conning Inc.’s holdings, making the stock its 12th biggest position. Conning Inc.’s holdings in RTX were worth $36,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Brookstone Capital Management grew its position in shares of RTX by 1.6% during the third quarter. Brookstone Capital Management now owns 40,706 shares of the company’s stock worth $4,932,000 after purchasing an additional 640 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in RTX during the 3rd quarter valued at approximately $350,000. CWM LLC raised its position in shares of RTX by 2.5% during the third quarter. CWM LLC now owns 128,288 shares of the company’s stock valued at $15,543,000 after buying an additional 3,080 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of RTX by 23.3% in the third quarter. Hexagon Capital Partners LLC now owns 708 shares of the company’s stock worth $86,000 after buying an additional 134 shares in the last quarter. Finally, Cypress Wealth Services LLC bought a new position in shares of RTX during the 3rd quarter valued at about $393,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $128.07 on Friday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a market capitalization of $170.60 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The stock’s fifty day moving average is $119.99 and its two-hundred day moving average is $120.07. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. RTX’s payout ratio is 70.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Bank of America boosted their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.07.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was 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 owns 44,415 shares in the company, 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 filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by insiders.

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.