RTX Co. (NYSE:RTX) Position Increased by Simmons Bank

Simmons Bank increased its position in shares of RTX Co. (NYSE:RTX) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,599 shares of the company’s stock after acquiring an additional 1,695 shares during the period. Simmons Bank’s holdings in RTX were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pallas Capital Advisors LLC increased its position in RTX by 30.5% during the third quarter. Pallas Capital Advisors LLC now owns 5,104 shares of the company’s stock worth $639,000 after buying an additional 1,192 shares during the last quarter. abrdn plc increased its position in RTX by 527.6% during the third quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after buying an additional 509,261 shares during the last quarter. Traynor Capital Management Inc. acquired a new position in RTX during the third quarter worth $245,000. Integrated Advisors Network LLC increased its position in RTX by 2.7% during the third quarter. Integrated Advisors Network LLC now owns 19,974 shares of the company’s stock worth $2,420,000 after buying an additional 517 shares during the last quarter. Finally, Strategic Blueprint LLC increased its position in RTX by 2.8% during the third quarter. Strategic Blueprint LLC now owns 7,345 shares of the company’s stock worth $890,000 after buying an additional 201 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Down 0.0 %

RTX stock opened at $127.30 on Thursday. RTX Co. has a twelve month low of $88.95 and a twelve month high of $132.43. The company has a market cap of $169.58 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business’s 50-day simple moving average is $122.09 and its 200 day simple moving average is $121.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Buying and Selling 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, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.