Wellington Shields Capital Management LLC Grows Position in RTX Co. (NYSE:RTX)

Wellington Shields Capital Management LLC raised its position in RTX Co. (NYSE:RTX) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,818 shares of the company’s stock after purchasing an additional 588 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in RTX were worth $3,103,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RTX. Geode Capital Management LLC raised its holdings in shares of RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC grew 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in RTX by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after purchasing an additional 151,474 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of RTX by 5.9% during the fourth 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 purchasing an additional 549,814 shares during the period. Finally, Amundi boosted its stake in shares of RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group upgraded shares of 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, February 24th. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Performance

RTX stock opened at $129.14 on Friday. RTX Co. has a one year low of $91.05 and a one year high of $135.36. The firm has a market cap of $172.03 billion, a price-to-earnings ratio of 36.38, a PEG 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 firm has a 50-day simple moving average of $124.78 and a two-hundred day simple moving average of $122.01.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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 forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm 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 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 yield of 1.95%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.