Bank of New York Mellon Corp Buys 549,814 Shares of RTX Co. (NYSE:RTX)

Bank of New York Mellon Corp boosted its stake in RTX Co. (NYSE:RTX) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,806,866 shares of the company’s stock after purchasing an additional 549,814 shares during the period. Bank of New York Mellon Corp owned about 0.74% of RTX worth $1,134,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares in the last quarter. First American Bank grew its holdings in RTX by 1.9% in the third quarter. First American Bank now owns 45,884 shares of the company’s stock worth $5,559,000 after purchasing an additional 867 shares during the period. Hibernia Wealth Partners LLC bought a new position in shares of RTX during the third quarter valued at approximately $423,000. Southern Capital Advisors LLC purchased a new position in shares of RTX during the third quarter valued at approximately $310,000. Finally, Smithbridge Asset Management Inc. DE boosted its position in shares of RTX by 1.4% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 66,796 shares of the company’s stock worth $8,093,000 after purchasing an additional 939 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX stock opened at $125.33 on Tuesday. 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 Co. has a 1 year low of $88.95 and a 1 year high of $132.43. The company has a market cap of $166.95 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The stock’s fifty day moving average price is $121.64 and its 200-day moving average price is $121.05.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RTX shares. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.40.

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.