Portfolio Design Labs LLC Boosts Holdings in RTX Co. (NYSE:RTX)

Portfolio Design Labs LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 38.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,840 shares of the company’s stock after acquiring an additional 6,063 shares during the quarter. Portfolio Design Labs LLC’s holdings in RTX were worth $2,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional lifted its holdings in RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after purchasing an additional 11,706 shares in the last quarter. LRI Investments LLC lifted its stake in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares in the last quarter. Napa Wealth Management purchased a new position in shares of RTX in the third quarter worth about $1,307,000. Czech National Bank lifted its stake in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after buying an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp lifted its stake in shares of RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after buying an additional 4,151 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX opened at $129.01 on Wednesday. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The stock has a market cap of $171.86 billion, a PE ratio of 36.34, a P/E/G ratio of 2.17 and a beta of 0.82. The firm has a 50-day simple moving average of $120.40 and a two-hundred day simple moving average of $120.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last announced its quarterly earnings results 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 net margin of 5.91% and a return on equity of 12.45%. As a group, analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Analyst Ratings Changes

RTX has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.07.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

About RTX

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.