Ames National Corp Purchases Shares of 2,278 RTX Co. (NYSE:RTX)

Ames National Corp acquired a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, Holdings Channel reports. The firm acquired 2,278 shares of the company’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in RTX in the 4th quarter valued at about $1,745,644,000. T. Rowe Price Investment Management Inc. grew its position in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Amundi increased its stake in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in RTX during the fourth quarter worth $216,340,000. Finally, Invesco Ltd. lifted its stake in shares of RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock valued at $1,175,457,000 after buying an additional 1,522,251 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RTX shares. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. UBS Group increased their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $159.82.

RTX Stock Down 0.1%

RTX opened at $137.11 on Wednesday. The company has a 50 day moving average of $129.00 and a 200 day moving average of $124.44. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $139.84. The company has a market cap of $183.17 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last announced its quarterly 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 firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is 79.77%.

Insider Activity at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,946 shares of company stock valued at $9,024,856. Company insiders own 0.15% of the company’s stock.

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.