Mizuho Securities USA LLC Boosts Stake in RTX Co. (NYSE:RTX)

Mizuho Securities USA LLC raised its position in RTX Co. (NYSE:RTX) by 46.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,150 shares of the company’s stock after purchasing an additional 39,891 shares during the quarter. Mizuho Securities USA LLC’s holdings in RTX were worth $14,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Millstone Evans Group LLC purchased a new stake in RTX in the 4th quarter worth about $39,000. Modus Advisors LLC purchased a new stake in RTX in the 4th quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter worth about $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Down 1.6 %

NYSE:RTX opened at $132.35 on Friday. RTX Co. has a 52 week low of $94.19 and a 52 week high of $135.74. The firm has a 50 day moving average of $127.15 and a 200 day moving average of $122.54. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $176.70 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. RTX’s dividend payout ratio is currently 70.99%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm’s 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 completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, 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 quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RTX. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

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.