Johnson Investment Counsel Inc. Buys 4,142 Shares of RTX Co. (NYSE:RTX)

Johnson Investment Counsel Inc. increased its stake in RTX Co. (NYSE:RTX) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,966 shares of the company’s stock after purchasing an additional 4,142 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in RTX were worth $3,815,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter valued at $40,000. Iron Horse Wealth Management LLC raised its holdings in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the period. Finally, BOK Financial Private Wealth Inc. raised its holdings in RTX by 43.3% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 414 shares of the company’s stock valued at $48,000 after acquiring an additional 125 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RTX shares. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America upped their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Performance

Shares of NYSE:RTX opened at $128.50 on Tuesday. The company has a market cap of $171.17 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a 50-day moving average price of $124.29 and a 200-day moving average price of $121.90. 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 Co. has a 12 month low of $89.44 and a 12 month high of $135.36.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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

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.