Heritage Trust Co Takes Position in RTX Co. (NYSE:RTX)

Heritage Trust Co purchased a new position in shares of RTX Co. (NYSE:RTX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 12,417 shares of the company’s stock, valued at approximately $1,437,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management grew its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of RTX during the fourth quarter valued at $39,000. Millstone Evans Group LLC bought a new stake in shares of RTX in the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the fourth quarter worth about $40,000. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RTX. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Citigroup reduced their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday. Susquehanna upped their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.73.

RTX Trading Up 0.9 %

RTX stock opened at $128.24 on Friday. The stock has a 50-day moving average price of $128.56 and a 200 day moving average price of $123.59. The company has a market capitalization of $171.21 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. 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 announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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 anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. RTX’s payout ratio is currently 70.99%.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’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 owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. 0.15% of the stock is currently owned by company 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.