Hemington Wealth Management Boosts Stock Position in RTX Co. (NYSE:RTX)

Hemington Wealth Management grew its stake in shares of RTX Co. (NYSE:RTX) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702 shares of the company’s stock after acquiring an additional 103 shares during the period. Hemington Wealth Management’s holdings in RTX were worth $196,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. FMR LLC increased its holdings in shares of RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of RTX by 2.4% in the third 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 during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of RTX by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after purchasing an additional 25,407 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RTX. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America increased their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley increased their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, 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. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

RTX stock opened at $126.82 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $120.55 and a 200-day moving average of $120.53. The firm has a market cap of $168.94 billion, a P/E ratio of 35.72, a P/E/G 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.

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

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.99%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.