Abacus Planning Group Inc. Increases Stake in RTX Co. (NYSE:RTX)

Abacus Planning Group Inc. increased its position in shares of RTX Co. (NYSE:RTX) by 17.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,868 shares of the company’s stock after purchasing an additional 431 shares during the period. Abacus Planning Group Inc.’s holdings in RTX were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. National Pension Service lifted its stake in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares during the period. Deutsche Bank AG lifted its stake in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after buying an additional 936,953 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of RTX in the fourth quarter valued at about $3,356,000. Thoroughbred Financial Services LLC increased its holdings in RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after buying an additional 7,987 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in RTX by 6.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock valued at $65,278,000 after acquiring an additional 32,024 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

RTX stock opened at $139.21 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $185.98 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company’s 50 day simple moving average is $129.63 and its 200-day simple moving average is $125.80. RTX Co. has a 1 year low of $99.07 and a 1 year high of $140.65.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Finally, Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $159.82.

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.