Greenleaf Trust Grows Stake in RTX Co. (NYSE:RTX)

Greenleaf Trust grew its stake in shares of RTX Co. (NYSE:RTX) by 36.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 78,389 shares of the company’s stock after acquiring an additional 21,071 shares during the period. Greenleaf Trust’s holdings in RTX were worth $6,596,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Norges Bank bought a new position in shares of RTX during the fourth quarter valued at $1,580,608,000. Northern Trust Corp boosted its position in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in RTX by 87,932.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after buying an additional 13,598,794 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after buying an additional 60,319 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RTX. UBS Group raised their price target on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $94.44.

RTX Price Performance

NYSE RTX traded up $0.86 on Friday, reaching $101.57. The company had a trading volume of 10,328,091 shares, compared to its average volume of 8,269,268. The stock has a market capitalization of $135.05 billion, a PE ratio of 45.34, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.32. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average price is $94.55 and its 200 day moving average price is $86.44.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s dividend payout ratio is currently 105.36%.

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.