1ST Source Bank Increases Position in RTX Co. (NYSE:RTX)

1ST Source Bank lifted its position in RTX Co. (NYSE:RTX) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,160 shares of the company’s stock after purchasing an additional 332 shares during the period. 1ST Source Bank’s holdings in RTX were worth $2,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV boosted its position in shares of RTX by 5.4% during the third quarter. KBC Group NV now owns 105,297 shares of the company’s stock worth $12,758,000 after acquiring an additional 5,374 shares during the last quarter. Schear Investment Advisers LLC lifted its holdings in shares of RTX by 1.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 5,826 shares of the company’s stock worth $706,000 after acquiring an additional 89 shares during the last quarter. Tower Bridge Advisors lifted its holdings in shares of RTX by 0.8% in the 3rd quarter. Tower Bridge Advisors now owns 104,542 shares of the company’s stock worth $12,666,000 after acquiring an additional 876 shares during the last quarter. Essential Planning LLC. bought a new stake in shares of RTX in the 3rd quarter worth about $216,000. Finally, TrinityPoint Wealth LLC increased its stake in RTX by 0.5% in the 3rd quarter. TrinityPoint Wealth LLC now owns 38,752 shares of the company’s stock worth $4,695,000 after buying an additional 186 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.6 %

NYSE:RTX opened at $130.00 on Monday. RTX Co. has a fifty-two week low of $92.35 and a fifty-two week high of $135.36. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company’s 50-day simple moving average is $125.33 and its 200-day simple moving average is $122.17.

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 analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts anticipate 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 dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.