Hartford Investment Management Co. Lowers Stock Position in RTX Co. (NYSE:RTX)

Hartford Investment Management Co. reduced its stake in RTX Co. (NYSE:RTX) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 82,256 shares of the company’s stock after selling 1,495 shares during the period. Hartford Investment Management Co.’s holdings in RTX were worth $9,519,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the third quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX during the fourth quarter worth approximately $40,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the third quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX opened at $129.01 on Wednesday. The stock has a 50-day moving average price of $120.40 and a 200-day moving average price of $120.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $171.86 billion, a PE ratio of 36.34, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share 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 given a dividend of $0.63 per share. The ex-dividend date 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%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred 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 transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

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.