Migdal Insurance & Financial Holdings Ltd. Buys 5,660 Shares of RTX Co. (NYSE:RTX)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of RTX Co. (NYSE:RTX) by 884.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,300 shares of the company’s stock after acquiring an additional 5,660 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in RTX were worth $530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley raised its stake in RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares in the last quarter. Norges Bank bought a new position in RTX during the fourth quarter valued at approximately $1,580,608,000. Northern Trust Corp grew its position in RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in RTX by 87,932.7% during 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. grew its position in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after acquiring an additional 60,319 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

NYSE:RTX opened at $100.75 on Thursday. The stock’s fifty day moving average is $94.13 and its 200 day moving average is $86.13. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The firm has a market capitalization of $133.96 billion, a PE ratio of 44.98, a PEG ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RTX shares. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. 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. UBS Group lifted their price target on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.44.

Insider Transactions at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last three months. 0.13% of the stock is currently owned by insiders.

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.