Princeton Capital Management LLC Increases Holdings in RTX Co. (NYSE:RTX)

Princeton Capital Management LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,512 shares of the company’s stock after buying an additional 164 shares during the quarter. Princeton Capital Management LLC’s holdings in RTX were worth $291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares during the period. Geode Capital Management LLC raised its holdings in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Charles Schwab Investment Management Inc. boosted 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 valued at $1,185,832,000 after purchasing an additional 151,474 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 buying an additional 549,814 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $134.76 on Tuesday. RTX Co. has a twelve month low of $95.27 and a twelve month high of $135.74. The company has a market capitalization of $179.92 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm has a 50 day moving average of $127.48 and a 200 day moving average of $122.66. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted 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%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a report on Monday. Wells Fargo & Company raised their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.40.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX 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 sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.15% of the stock is currently owned by insiders.

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.