Principal Securities Inc. Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Principal Securities Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX) by 27.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,439 shares of the company’s stock after acquiring an additional 8,513 shares during the quarter. Principal Securities Inc.’s holdings in RTX were worth $4,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. bLong Financial LLC bought a new stake in RTX during the fourth quarter valued at $615,000. Ellis Investment Partners LLC raised its holdings in shares of RTX by 1.4% in the 4th quarter. Ellis Investment Partners LLC now owns 13,130 shares of the company’s stock valued at $1,519,000 after acquiring an additional 176 shares in the last quarter. TigerOak Management L.L.C. purchased a new position in shares of RTX during the fourth quarter worth about $646,000. Roxbury Financial LLC bought a new position in shares of RTX in the fourth quarter worth approximately $1,021,000. Finally, Hickory Asset Management Inc. purchased a new stake in RTX in the fourth quarter valued at approximately $214,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Down 2.5 %

RTX opened at $122.68 on Monday. The firm’s 50 day simple moving average is $120.79 and its two-hundred day simple moving average is $120.68. The company has a market capitalization of $163.42 billion, a PE ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. RTX’s payout ratio is 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the 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 completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.