TCTC Holdings LLC Raises Stake in RTX Co. (NYSE:RTX)

TCTC Holdings LLC increased its stake in RTX Co. (NYSE:RTX) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 86,863 shares of the company’s stock after buying an additional 319 shares during the quarter. TCTC Holdings LLC’s holdings in RTX were worth $10,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in RTX during the fourth quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new stake in RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the fourth quarter valued at about $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Bank of America increased 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, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.40.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% of the company’s stock.

RTX Stock Up 0.6 %

Shares of NYSE RTX opened at $130.00 on Monday. RTX Co. has a one year low of $92.35 and a one year high of $135.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $125.33 and its two-hundred day simple moving average is $122.17. The stock has a market capitalization of $173.56 billion, a P/E ratio of 36.62, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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, analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is 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.