Mechanics Financial Corp Acquires 4,860 Shares of RTX Co. (NYSE:RTX)

Mechanics Financial Corp increased its stake in RTX Co. (NYSE:RTX) by 360.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,210 shares of the company’s stock after purchasing an additional 4,860 shares during the quarter. Mechanics Financial Corp’s holdings in RTX were worth $719,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its holdings in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of RTX during the 3rd quarter valued at $405,000. Freedom Investment Management Inc. boosted its holdings in RTX by 37.7% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,508 shares of the company’s stock worth $425,000 after buying an additional 960 shares during the period. CreativeOne Wealth LLC increased its stake in RTX by 31.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 18,072 shares of the company’s stock worth $2,190,000 after buying an additional 4,374 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of RTX by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 293,272 shares of the company’s stock valued at $35,533,000 after acquiring an additional 16,361 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

NYSE RTX opened at $131.68 on Friday. The company has a market cap of $175.81 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. The business’s 50 day moving average price is $128.59 and its 200-day moving average price is $123.01. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. 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 announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

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.