Leigh Baldwin & CO. LLC Invests $37.04 Million in RTX Co. (NYSE:RTX)

Leigh Baldwin & CO. LLC acquired a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 320,117 shares of the company’s stock, valued at approximately $37,044,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of RTX during the 4th quarter worth $1,745,644,000. T. Rowe Price Investment Management Inc. grew its position in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi increased its stake in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in RTX during the 4th quarter valued at $216,340,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. UBS Group lifted their price target on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Buy” and a consensus price target of $161.06.

RTX Trading Up 0.0%

Shares of RTX opened at $128.69 on Monday. 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 Co. has a one year low of $99.07 and a one year high of $136.17. The stock has a 50-day moving average price of $128.26 and a 200 day moving average price of $123.90. The company has a market capitalization of $171.92 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts forecast that RTX Co. will post 6.11 EPS 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 given a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was 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 in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,946 shares of company stock valued at $9,024,856. Corporate insiders own 0.15% of the company’s stock.

RTX Company 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.