Bridges Investment Management Inc. Purchases 297 Shares of RTX Co. (NYSE:RTX)

Bridges Investment Management Inc. grew its holdings in shares of RTX Co. (NYSE:RTX) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,424 shares of the company’s stock after buying an additional 297 shares during the quarter. Bridges Investment Management Inc.’s holdings in RTX were worth $3,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Cape Investment Advisory Inc. increased its stake in RTX by 7.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 2,152 shares of the company’s stock worth $249,000 after purchasing an additional 142 shares during the period. Hickory Point Bank & Trust bought a new position in shares of RTX in the fourth quarter worth about $292,000. Purkiss Capital Advisors LLC purchased a new position in RTX in the 4th quarter worth about $665,000. PCG Asset Management LLC bought a new stake in RTX during the 4th quarter valued at about $436,000. Finally, Capital Wealth Planning LLC purchased a new stake in RTX in the 4th quarter valued at about $216,340,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RTX shares. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company raised their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Up 1.9 %

NYSE:RTX opened at $133.02 on Friday. The company’s 50-day simple moving average is $122.72 and its 200-day simple moving average is $121.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.95 and a fifty-two week high of $133.09. The stock has a market capitalization of $177.19 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82.

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%. On average, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,334 shares of company stock worth $4,639,194. 0.13% of the stock is owned by insiders.

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.