RTX Co. (NYSE:RTX) Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its stake in RTX Co. (NYSE:RTX) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 343,886 shares of the company’s stock after selling 9,905 shares during the period. RTX accounts for about 1.2% of Associated Banc Corp’s holdings, making the stock its 18th biggest position. Associated Banc Corp’s holdings in RTX were worth $39,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after acquiring an additional 508,344 shares during the period. Fisher Asset Management LLC increased its position in RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after acquiring an additional 576,214 shares during the period. Charles Schwab Investment Management Inc. increased its position in RTX by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after acquiring an additional 151,474 shares during the period. Bank of New York Mellon Corp increased its position in RTX by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after acquiring an additional 549,814 shares during the period. Finally, Amundi increased its position in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after acquiring an additional 2,854,928 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $130.00 on Friday. The business’s 50 day simple moving average is $125.33 and its 200-day simple moving average is $122.14. The firm has a market capitalization of $173.56 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. 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 $91.05 and a 12 month high of $135.36.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RTX. Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Five investment 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’s stock. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is owned by corporate insiders.

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.