RTX Co. (NYSE:RTX) Position Raised by Eagle Ridge Investment Management

Eagle Ridge Investment Management raised its position in shares of RTX Co. (NYSE:RTX) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 120,731 shares of the company’s stock after buying an additional 1,401 shares during the period. Eagle Ridge Investment Management’s holdings in RTX were worth $13,971,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the period. FMR LLC raised its holdings in RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after buying an additional 140,697 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of RTX by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock worth $355,927,000 after acquiring an additional 38,930 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Five investment 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 stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Price Performance

Shares of RTX stock opened at $128.80 on Friday. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The firm has a fifty day simple moving average of $119.87 and a 200-day simple moving average of $119.90. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $171.43 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that RTX Co. will post 6.12 earnings per share for the current year.

RTX Announces Dividend

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

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated 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 directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by 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.