Hartford Funds Management Co LLC Purchases 236 Shares of RTX Co. (NYSE:RTX)

Hartford Funds Management Co LLC lifted its position in shares of RTX Co. (NYSE:RTX) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,726 shares of the company’s stock after buying an additional 236 shares during the quarter. Hartford Funds Management Co LLC’s holdings in RTX were worth $547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX during the 3rd quarter worth $29,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the 3rd quarter worth $41,000. Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter worth $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX during the 4th quarter worth $40,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.1 %

Shares of NYSE:RTX opened at $128.27 on Friday. RTX Co. has a 52-week low of $89.44 and a 52-week high of $135.36. The stock has a market cap of $170.87 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.11 and a beta of 0.78. 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 business has a 50-day moving average price of $123.56 and a 200-day moving average price of $121.65.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business 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 yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value 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. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.13% of the stock is owned by corporate insiders.

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.