Norges Bank Buys Shares of 15,085,070 RTX Co. (NYSE:RTX)

Norges Bank purchased a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,085,070 shares of the company’s stock, valued at approximately $1,745,644,000. Norges Bank owned about 1.13% of RTX at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of RTX during the 3rd quarter valued at $405,000. Transamerica Financial Advisors Inc. purchased a new position in shares of RTX during the 3rd quarter valued at $1,496,000. Cadence Bank increased its stake in RTX by 1.4% in the 3rd quarter. Cadence Bank now owns 148,840 shares of the company’s stock worth $18,033,000 after buying an additional 1,992 shares in the last quarter. Finally, RS Crum Inc. lifted its position in shares of RTX by 4.0% in the third quarter. RS Crum Inc. now owns 3,892 shares of the company’s stock valued at $472,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on 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 in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

RTX Trading Down 0.9 %

Shares of NYSE RTX opened at $134.46 on Thursday. The stock has a market capitalization of $179.52 billion, a P/E ratio of 37.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 1-year low of $96.33 and a 1-year high of $136.17. 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 business has a fifty day moving average price of $128.12 and a 200 day moving average price of $122.87.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Equities research 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 was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is 70.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

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.