RTX Co. (NYSE:RTX) Shares Bought by Ballast Inc.

Ballast Inc. grew its stake in RTX Co. (NYSE:RTX) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,728 shares of the company’s stock after acquiring an additional 251 shares during the quarter. Ballast Inc.’s holdings in RTX were worth $987,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RTX. Morgan Stanley boosted its stake in RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after buying an additional 3,104,282 shares during the last quarter. Norges Bank purchased a new stake in shares of RTX during the 4th quarter valued at $1,580,608,000. Northern Trust Corp increased its holdings in shares of RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after buying an additional 256,215 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after acquiring an additional 60,319 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.1 %

Shares of NYSE:RTX opened at $97.56 on Friday. RTX Co. has a twelve month low of $68.56 and a twelve month high of $104.91. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The firm has a market cap of $129.72 billion, a P/E ratio of 43.55, a P/E/G ratio of 1.78 and a beta of 0.87. The company has a 50 day moving average of $91.41 and a 200-day moving average of $83.52.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.42%. RTX’s dividend payout ratio (DPR) is 105.36%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RTX shares. Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 price target (up previously from $88.00) on shares of RTX in a research note on Tuesday, January 16th. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. Royal Bank of Canada lifted their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Wells Fargo & Company upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $100.00 to $120.00 in a research note on Thursday, March 14th. Finally, TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.12.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,785 shares of company stock worth $3,448,188. Company insiders own 0.13% of the company’s stock.

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.