QRG Capital Management Inc. Grows Stock Holdings in RTX Co. (NYSE:RTX)

QRG Capital Management Inc. raised its position in shares of RTX Co. (NYSE:RTX) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,231 shares of the company’s stock after buying an additional 6,254 shares during the period. QRG Capital Management Inc.’s holdings in RTX were worth $19,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the third quarter valued at $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the fourth quarter valued at $40,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC raised its stake in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of NYSE:RTX opened at $127.30 on Thursday. The business’s 50 day simple moving average is $122.09 and its 200-day simple moving average is $121.17. The firm has a market capitalization of $169.58 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12 month low of $88.95 and a 12 month high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. RTX’s dividend payout ratio is currently 70.99%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $142.00 to $147.00 in a report on Monday. Five equities 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 company’s stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

About RTX

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.