ING Groep NV Raises Position in RTX Co. (NYSE:RTX)

ING Groep NV lifted its stake in shares of RTX Co. (NYSE:RTXFree Report) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,853 shares of the company’s stock after acquiring an additional 14,126 shares during the quarter. ING Groep NV’s holdings in RTX were worth $16,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Manchester Capital Management LLC raised its position in RTX by 3.0% in the 4th quarter. Manchester Capital Management LLC now owns 6,217 shares of the company’s stock valued at $523,000 after purchasing an additional 183 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of RTX by 0.7% in the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,202 shares of the company’s stock valued at $9,945,000 after acquiring an additional 786 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in RTX by 8.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock worth $3,145,000 after purchasing an additional 2,790 shares in the last quarter. Brown Advisory Inc. raised its stake in RTX by 3.2% during the 4th quarter. Brown Advisory Inc. now owns 291,476 shares of the company’s stock worth $24,525,000 after acquiring an additional 8,931 shares in the last quarter. Finally, Summit X LLC lifted its holdings in shares of RTX by 1.8% in the 4th quarter. Summit X LLC now owns 18,492 shares of the company’s stock valued at $1,556,000 after purchasing an additional 319 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

RTX stock traded down $0.06 during midday trading on Friday, reaching $104.18. The company’s stock had a trading volume of 8,501,013 shares, compared to its average volume of 6,832,613. The firm has a market capitalization of $138.51 billion, a PE ratio of 40.86, a P/E/G ratio of 1.88 and a beta of 0.84. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $107.82. The stock’s 50 day simple moving average is $99.61 and its 200 day simple moving average is $90.54. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

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

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is currently 98.82%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays lifted their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Finally, UBS Group increased their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.33.

View Our Latest Research Report on RTX

Insider Buying and Selling

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction 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 sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,042 shares of company stock valued at $12,266,459. 0.13% of the stock is owned by insiders.

RTX Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Co. (NYSE:RTXFree Report).

Institutional Ownership by Quarter for RTX (NYSE:RTX)

Receive News & Ratings for RTX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RTX and related companies with MarketBeat.com's FREE daily email newsletter.