Bigelow Investment Advisors LLC Raises Position in RTX Co. (NYSE:RTX)

Bigelow Investment Advisors LLC grew its position in RTX Co. (NYSE:RTX) by 1.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,523 shares of the company’s stock after purchasing an additional 238 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in RTX were worth $1,306,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RTX. Morgan Stanley boosted its position in shares of RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the period. Norges Bank purchased a new stake in RTX during the fourth quarter valued at $1,580,608,000. Northern Trust Corp raised its stake in RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after acquiring an additional 60,319 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX stock traded up $0.85 during trading on Friday, reaching $101.56. 6,319,315 shares of the company’s stock were exchanged, compared to its average volume of 8,216,517. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a market cap of $135.04 billion, a PE ratio of 45.56, a P/E/G ratio of 1.83 and a beta of 0.88. The company’s fifty day moving average price is $94.33 and its 200-day moving average price is $86.23. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.32.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the prior year, the business posted $1.27 earnings per share. RTX’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is currently 105.36%.

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price target on shares of RTX in a research report on Monday, April 1st. Barclays raised their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. UBS Group raised their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $94.44.

Insider Activity at RTX

In other news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 in the last 90 days. 0.13% of the stock is owned by company insiders.

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.