RTX Co. (NYSE:RTX) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in RTX Co. (NYSE:RTX) by 14.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 192,663 shares of the company’s stock after purchasing an additional 24,168 shares during the quarter. ProShare Advisors LLC’s holdings in RTX were worth $22,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Carnegie Investment Counsel raised its holdings in RTX by 1.1% during the 4th quarter. Carnegie Investment Counsel now owns 114,519 shares of the company’s stock worth $13,252,000 after buying an additional 1,288 shares during the period. Ritholtz Wealth Management grew its stake in RTX by 9.5% during the 4th quarter. Ritholtz Wealth Management now owns 28,103 shares of the company’s stock valued at $3,252,000 after acquiring an additional 2,441 shares in the last quarter. JGP Wealth Management LLC grew its stake in RTX by 0.5% during the 4th quarter. JGP Wealth Management LLC now owns 94,341 shares of the company’s stock valued at $10,917,000 after acquiring an additional 508 shares in the last quarter. Cohen Investment Advisors LLC grew its stake in RTX by 0.7% during the 4th quarter. Cohen Investment Advisors LLC now owns 28,887 shares of the company’s stock valued at $3,343,000 after acquiring an additional 195 shares in the last quarter. Finally, Bouvel Investment Partners LLC grew its stake in RTX by 0.8% during the 4th quarter. Bouvel Investment Partners LLC now owns 28,788 shares of the company’s stock valued at $3,331,000 after acquiring an additional 216 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE:RTX opened at $135.37 on Friday. The company has a market capitalization of $180.85 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.11 and a beta of 0.60. The company has a 50-day moving average of $128.66 and a 200-day moving average of $124.19. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings data 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 company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. UBS Group lifted their target price on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $159.82.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is owned by 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.