Cypress Capital Group Acquires 2,461 Shares of RTX Co. (NYSE:RTX)

Cypress Capital Group boosted its holdings in RTX Co. (NYSE:RTX) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 40,857 shares of the company’s stock after buying an additional 2,461 shares during the period. Cypress Capital Group’s holdings in RTX were worth $4,728,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Fusion Capital LLC raised its holdings in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. raised its holdings in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after buying an additional 81 shares during the last quarter. Pointe Capital Management LLC raised its holdings in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after purchasing an additional 81 shares during the last quarter. Avestar Capital LLC raised its holdings in RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the last quarter. Finally, Arbor Wealth Advisors LLC raised its holdings in RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, 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 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. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Susquehanna raised their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Performance

NYSE RTX opened at $128.66 on Wednesday. The company has a fifty day simple moving average of $123.30 and a 200 day simple moving average of $121.59. RTX Co. has a 12-month low of $89.44 and a 12-month high of $135.36. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $171.40 billion, a P/E ratio of 36.24, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results 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%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.