SlateStone Wealth LLC Increases Stock Position in RTX Co. (NYSE:RTX)

SlateStone Wealth LLC boosted its stake in RTX Co. (NYSE:RTX) by 6.3% in the fourth quarter, HoldingsChannel reports. The firm owned 49,371 shares of the company’s stock after acquiring an additional 2,923 shares during the period. SlateStone Wealth LLC’s holdings in RTX were worth $4,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RTX. Boston Partners purchased a new stake in RTX in the 3rd quarter worth $355,350,000. Massachusetts Financial Services Co. MA raised its position in shares of RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares in the last quarter. Van ECK Associates Corp raised its position in shares of RTX by 8,331.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after buying an additional 1,745,344 shares in the last quarter. Sanders Capital LLC grew its holdings in RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on RTX shares. TD Cowen upped their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Finally, Barclays upped their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.00.

RTX Stock Performance

RTX opened at $100.86 on Wednesday. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market cap of $134.11 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The firm’s 50-day moving average price is $94.97 and its 200-day moving average price is $87.12.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced 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 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Insider Transactions at RTX

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