Choate Investment Advisors Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Choate Investment Advisors increased its position in shares of RTX Co. (NYSE:RTX) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,920 shares of the company’s stock after purchasing an additional 2,870 shares during the period. Choate Investment Advisors’ holdings in RTX were worth $4,041,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RTX. KBC Group NV raised its holdings in RTX by 5.4% during the third quarter. KBC Group NV now owns 105,297 shares of the company’s stock worth $12,758,000 after purchasing an additional 5,374 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of RTX by 6.8% during the 3rd quarter. CIBC Asset Management Inc now owns 246,986 shares of the company’s stock valued at $29,925,000 after acquiring an additional 15,756 shares during the period. Signature Estate & Investment Advisors LLC lifted its position in shares of RTX by 4.5% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 7,388 shares of the company’s stock valued at $895,000 after acquiring an additional 321 shares during the period. Natixis Advisors LLC lifted its position in shares of RTX by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 1,238,447 shares of the company’s stock valued at $150,050,000 after acquiring an additional 23,311 shares during the period. Finally, RIA Advisory Group LLC acquired a new stake in shares of RTX during the 3rd quarter valued at approximately $250,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.6 %

RTX stock opened at $130.00 on Friday. The stock has a market capitalization of $173.56 billion, a P/E ratio of 36.62, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a one year low of $92.35 and a one year high of $135.36. The company has a 50 day moving average price of $125.33 and a two-hundred day moving average price of $122.16.

RTX (NYSE:RTX) last released its 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, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

RTX 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.