Ames National Corp Buys Shares of 2,278 RTX Co. (NYSE:RTX)

Ames National Corp purchased a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,278 shares of the company’s stock, valued at approximately $264,000.

Other large investors have also modified their holdings of the company. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management boosted its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter worth about $34,000. Millstone Evans Group LLC acquired a new position in RTX in the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the 4th quarter valued at about $40,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $159.82.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of RTX stock opened at $137.11 on Wednesday. The company’s fifty day simple moving average is $129.00 and its 200-day simple moving average is $124.44. RTX Co. has a 52 week low of $99.07 and a 52 week high of $139.84. The company has a market cap of $183.17 billion, a PE ratio of 38.62, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.98%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is presently 79.77%.

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.