Glen Eagle Advisors LLC Purchases 1,097 Shares of RTX Co. (NYSE:RTX)

Glen Eagle Advisors LLC grew its position in RTX Co. (NYSE:RTX) by 32.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,500 shares of the company’s stock after buying an additional 1,097 shares during the period. Glen Eagle Advisors LLC’s holdings in RTX were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in RTX in the fourth quarter worth $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its position in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Amundi grew its stake in 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 buying an additional 2,854,928 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in RTX during the 4th quarter valued at about $216,340,000. Finally, Invesco Ltd. raised its stake in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock valued at $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $137.11 on Wednesday. RTX Co. has a 52-week low of $99.07 and a 52-week high of $139.84. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $183.17 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The business has a 50-day simple moving average of $129.00 and a 200-day simple moving average of $124.44.

RTX (NYSE:RTX) last announced its quarterly 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 return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Susquehanna cut their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, UBS Group boosted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of “Buy” and an average target price of $159.82.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were 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 in the company, valued at $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 three months, insiders have sold 69,946 shares of company stock valued at $9,024,856. Corporate insiders own 0.15% 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.