Johnson Financial Group Inc. Raises Position in RTX Co. (NYSE:RTX)

Johnson Financial Group Inc. grew its holdings in shares of RTX Co. (NYSE:RTX) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,840 shares of the company’s stock after purchasing an additional 475 shares during the period. Johnson Financial Group Inc.’s holdings in RTX were worth $239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter worth $25,000. Planned Solutions Inc. purchased a new position in RTX in the 4th quarter worth $30,000. Financial Gravity Asset Management Inc. raised its stake in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in RTX in the 4th quarter worth $38,000. Finally, Valley National Advisers Inc. raised its stake in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Susquehanna lifted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.33.

RTX Trading Up 0.8 %

RTX stock opened at $106.27 on Monday. The stock has a market cap of $141.29 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 1.86 and a beta of 0.84. The business’s 50-day moving average is $101.04 and its 200 day moving average is $91.40. RTX Co. has a 12-month low of $68.56 and a 12-month high of $107.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for 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%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. On average, sell-side analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, May 16th. RTX’s payout ratio is currently 98.82%.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold a total of 120,042 shares of company stock worth $12,266,459 in the last ninety days. Insiders own 0.13% 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.