Frank Rimerman Advisors LLC Grows Position in RTX Co. (NYSE:RTX)

Frank Rimerman Advisors LLC grew its holdings in shares of RTX Co. (NYSE:RTX) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,229 shares of the company’s stock after purchasing an additional 531 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in RTX were worth $721,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of RTX by 1.9% during 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 purchasing an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of RTX by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after acquiring an additional 151,474 shares during the period. Bank of New York Mellon Corp boosted its stake 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 worth $1,134,851,000 after purchasing an additional 549,814 shares during the period. Finally, Amundi boosted its stake in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX stock opened at $130.00 on Friday. The firm has a market cap of $173.56 billion, a P/E ratio of 36.62, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a fifty-two week low of $92.35 and a fifty-two week high of $135.36. The business’s 50 day moving average price is $125.33 and its 200-day moving average price is $122.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared 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 1.94%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RTX has been the subject of a number of research analyst reports. Susquehanna lifted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $142.00 to $147.00 in a report on Monday, February 24th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.

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.