Welch & Forbes LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

Welch & Forbes LLC lifted its stake in RTX Co. (NYSE:RTX) by 0.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,172,281 shares of the company’s stock after buying an additional 291 shares during the period. RTX comprises about 1.5% of Welch & Forbes LLC’s holdings, making the stock its 18th biggest position. Welch & Forbes LLC’s holdings in RTX were worth $98,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in RTX during the 4th quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in RTX during the 3rd quarter valued at about $28,000. Planned Solutions Inc. acquired a new position in RTX during the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,842 shares of company stock worth $13,603,426. 0.13% of the stock is currently owned by company insiders.

RTX Trading Up 0.5 %

RTX stock traded up $0.51 during trading on Monday, reaching $101.91. 3,372,626 shares of the company were exchanged, compared to its average volume of 8,110,990. The stock’s 50 day simple moving average is $96.70 and its two-hundred day simple moving average is $88.70. The company has a market capitalization of $135.49 billion, a P/E ratio of 39.99, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 92.55%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Finally, Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $96.93.

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.