RTX Co. (NYSE:RTX) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in RTX Co. (NYSE:RTX) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,379,443 shares of the company’s stock after acquiring an additional 163,339 shares during the quarter. PNC Financial Services Group Inc. owned 0.18% of RTX worth $275,349,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RTX. Assenagon Asset Management S.A. grew its position in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $216,340,000. Proficio Capital Partners LLC grew its position in shares of RTX by 19,052.5% in the 4th quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after acquiring an additional 1,037,792 shares in the last quarter. Jennison Associates LLC grew its position in shares of RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares in the last quarter. Finally, Fisher Asset Management LLC grew 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 worth $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 0.3 %

Shares of RTX stock opened at $128.63 on Friday. RTX Co. has a 1 year low of $89.44 and a 1 year high of $135.36. The stock has a market cap of $171.35 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The business’s fifty day moving average is $123.78 and its 200-day moving average is $121.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

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%. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RTX. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. The trade was a 39.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX 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 transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last three months. 0.13% of the stock is currently owned by insiders.

RTX Company 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.