RNC Capital Management LLC Buys 10,243 Shares of RTX Co. (NYSE:RTX)

RNC Capital Management LLC boosted its holdings in RTX Co. (NYSE:RTX) by 303.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,615 shares of the company’s stock after purchasing an additional 10,243 shares during the period. RNC Capital Management LLC’s holdings in RTX were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the 3rd quarter worth about $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the third quarter worth $41,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter worth $39,000. Iron Horse Wealth Management LLC boosted its stake in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of RTX in the third quarter valued at $50,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by company insiders.

RTX Price Performance

RTX opened at $128.80 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $171.43 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The business’s 50-day moving average is $119.87 and its two-hundred day moving average is $119.90. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts anticipate that RTX Co. will post 6.12 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. UBS Group increased their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.