Cutler Investment Counsel LLC Grows Stock Position in RTX Co. (NYSE:RTX)

Cutler Investment Counsel LLC grew its holdings in RTX Co. (NYSE:RTX) by 79.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 126,748 shares of the company’s stock after buying an additional 56,054 shares during the quarter. RTX makes up 1.5% of Cutler Investment Counsel LLC’s holdings, making the stock its 28th biggest holding. Cutler Investment Counsel LLC’s holdings in RTX were worth $10,665,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RTX. Morgan Stanley lifted its position in RTX by 11.3% during the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after buying an additional 3,104,282 shares in the last quarter. Norges Bank acquired a new position in shares of RTX during the 4th quarter valued at about $1,580,608,000. Northern Trust Corp grew its holdings in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the period. Moneta Group Investment Advisors LLC increased its position in RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after purchasing an additional 13,598,794 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RTX shares. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 price target on shares of RTX in a research note on Monday, April 1st. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. UBS Group upped their price objective on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.44.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 in the last three months. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded up $1.35 during trading on Friday, reaching $102.06. 3,039,351 shares of the company were exchanged, compared to its average volume of 8,171,896. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The stock’s 50 day moving average price is $94.33 and its 200 day moving average price is $86.23. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.32. The company has a market cap of $135.70 billion, a P/E ratio of 44.95, a PEG ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. As a group, analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

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.