Harbour Trust & Investment Management Co Acquires 2,229 Shares of RTX Co. (NYSE:RTX)

Harbour Trust & Investment Management Co boosted its holdings in RTX Co. (NYSE:RTX) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,393 shares of the company’s stock after acquiring an additional 2,229 shares during the quarter. RTX accounts for approximately 1.2% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its 23rd biggest holding. Harbour Trust & Investment Management Co’s holdings in RTX were worth $10,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Angeles Wealth Management LLC increased its holdings in RTX by 4.0% in the 4th quarter. Angeles Wealth Management LLC now owns 8,516 shares of the company’s stock worth $985,000 after acquiring an additional 325 shares during the last quarter. Liberty Capital Management Inc. lifted its holdings in RTX by 5.9% during the 4th quarter. Liberty Capital Management Inc. now owns 36,141 shares of the company’s stock worth $4,182,000 after purchasing an additional 2,021 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in RTX during the 4th quarter valued at about $363,000. Kestra Private Wealth Services LLC increased its position in shares of RTX by 11.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 174,698 shares of the company’s stock valued at $20,216,000 after buying an additional 17,628 shares during the period. Finally, Stephens Inc. AR raised its position in shares of RTX by 2.7% in the fourth quarter. Stephens Inc. AR now owns 102,133 shares of the company’s stock worth $11,819,000 after buying an additional 2,687 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RTX. 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 report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Down 0.6 %

RTX opened at $128.07 on Monday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $119.99 and a two-hundred day simple moving average of $120.28. The company has a market capitalization of $170.60 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

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

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated 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. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by 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.