Hemenway Trust Co LLC Has $28.94 Million Stake in RTX Co. (NYSE:RTX)

Hemenway Trust Co LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,110 shares of the company’s stock after selling 418 shares during the period. RTX accounts for approximately 2.3% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 20th biggest holding. Hemenway Trust Co LLC’s holdings in RTX were worth $28,943,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in RTX in the fourth quarter worth approximately $1,745,644,000. Amundi increased its stake in shares of RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after acquiring an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares during the period. Capital Wealth Planning LLC bought a new position in RTX during the fourth quarter worth $216,340,000. Finally, Vanguard Group Inc. grew its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Stock Down 9.8 %

Shares of NYSE:RTX opened at $117.43 on Friday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The company has a market capitalization of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The business has a fifty day moving average price of $129.05 and a two-hundred day moving average price of $123.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

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

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

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.