Bridges Investment Management Inc. Grows Stock Holdings in RTX Co. (NYSE:RTX)

Bridges Investment Management Inc. increased its holdings in shares of RTX Co. (NYSE:RTX) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,424 shares of the company’s stock after purchasing an additional 297 shares during the period. Bridges Investment Management Inc.’s holdings in RTX were worth $3,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake 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 buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its holdings in RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the period. Bank of New York Mellon Corp raised its position in RTX by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after acquiring an additional 549,814 shares in the last quarter. FMR LLC lifted its holdings in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after acquiring an additional 490,109 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in RTX by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after purchasing an additional 140,697 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Susquehanna boosted their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five investment 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, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Up 1.9 %

NYSE RTX opened at $133.02 on Friday. RTX Co. has a one year low of $88.95 and a one year high of $133.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The business has a fifty day moving average price of $122.72 and a 200 day moving average price of $121.38. The company has a market cap of $177.19 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’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 in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,334 shares of company stock valued at $4,639,194. 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.