HTLF Bank Takes $7.70 Million Position in RTX Co. (NYSE:RTX)

HTLF Bank bought a new stake in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 91,479 shares of the company’s stock, valued at approximately $7,697,000. RTX makes up 0.9% of HTLF Bank’s portfolio, making the stock its 29th largest position.

Several other institutional investors have also made changes to their positions in RTX. Morgan Stanley boosted its position in RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after buying an additional 3,104,282 shares in the last quarter. Norges Bank bought a new position in shares of RTX in the fourth quarter worth about $1,580,608,000. Northern Trust Corp raised its stake in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after acquiring an additional 256,215 shares during 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 worth $1,373,951,000 after acquiring an additional 13,598,794 shares during the last quarter. 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 worth $784,735,000 after acquiring an additional 60,319 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of RTX stock traded up $1.29 during midday trading on Friday, hitting $102.00. 1,830,957 shares of the company traded hands, compared to its average volume of 8,155,745. The stock has a market cap of $135.62 billion, a price-to-earnings ratio of 44.95, a PEG ratio of 1.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm’s fifty day moving average price is $94.33 and its 200-day moving average price is $86.23. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.32.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period in the previous year, the firm posted $1.27 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RTX. UBS Group boosted their target price 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. Royal Bank of Canada boosted their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Barclays boosted their price target 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. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus target price of $94.44.

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.