RNC Capital Management LLC Acquires 10,243 Shares of RTX Co. (NYSE:RTX)

RNC Capital Management LLC grew its position in shares of RTX Co. (NYSE:RTX) by 303.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,615 shares of the company’s stock after purchasing an additional 10,243 shares during the quarter. RNC Capital Management LLC’s holdings in RTX were worth $1,576,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. CX Institutional boosted its holdings in RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares during the last quarter. LRI Investments LLC increased its position in shares of RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management bought a new position in shares of RTX in the third quarter worth approximately $1,307,000. Czech National Bank increased its position in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in RTX in the fourth quarter worth approximately $8,387,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, 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 of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. Susquehanna upped their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group lifted their price objective on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Performance

Shares of RTX stock opened at $128.80 on Friday. The company has a market cap of $171.43 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. 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 stock has a 50 day simple moving average of $119.87 and a 200-day simple moving average of $119.90. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts forecast that RTX Co. will post 6.12 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 1.96%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

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.