Lowe Brockenbrough & Co. Inc. Increases Stock Position in RTX Co. (NYSE:RTX)

Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,148 shares of the company’s stock after buying an additional 591 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in RTX were worth $11,705,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. CX Institutional raised its position in RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares in the last quarter. National Pension Service grew its stake in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares during the period. LRI Investments LLC increased its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Czech National Bank lifted its stake in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares during the period. Finally, Archer Investment Corp boosted its holdings in RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after buying an additional 4,151 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday. Argus upgraded 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 and raised their price target for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $166.40.

Insider Activity at RTX

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, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

RTX Stock Down 0.7 %

RTX stock opened at $134.37 on Friday. RTX Co. has a one year low of $94.08 and a one year high of $135.74. The stock has a market capitalization of $179.40 billion, a P/E ratio of 37.85, a PEG ratio of 2.11 and a beta of 0.78. The company has a 50 day moving average price of $126.80 and a two-hundred day moving average price of $122.47. 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 (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.88%. RTX’s dividend payout ratio is presently 70.99%.

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.