Greatmark Investment Partners Inc. Buys Shares of 2,657 RTX Co. (NYSE:RTX)

Greatmark Investment Partners Inc. bought a new stake in shares of RTX Co. (NYSE:RTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,657 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of RTX by 1.9% in the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of RTX by 0.5% in the 3rd 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 period. Sanders Capital LLC increased its holdings in shares of RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after acquiring an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after acquiring an additional 1,914,184 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of RTX by 9.8% in the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after acquiring an additional 593,305 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

Shares of RTX stock traded up $0.23 on Tuesday, hitting $102.67. The company had a trading volume of 484,282 shares, compared to its average volume of 8,044,375. The firm has a market cap of $136.50 billion, a P/E ratio of 40.18, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The company has a 50-day moving average price of $95.80 and a 200-day moving average price of $87.92. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. As a group, equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.30%. RTX’s payout ratio is 92.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Susquehanna lifted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. TD Cowen boosted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $96.27.

Insider Buying and Selling

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the 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 approximately $614,711.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by company insiders.

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.