Norway Savings Bank Takes $263,000 Position in RTX Co. (NYSE:RTX)

Norway Savings Bank acquired a new stake in RTX Co. (NYSE:RTX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,693 shares of the company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors boosted its holdings in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Sanders Capital LLC boosted its stake in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RTX in the 4th quarter worth $690,154,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Down 0.2 %

Shares of NYSE:RTX opened at $100.39 on Friday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $133.47 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83. The firm has a fifty day moving average of $104.42 and a two-hundred day moving average of $95.57.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. On average, equities analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s dividend payout ratio (DPR) is 98.82%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research analyst reports. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group raised their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.33.

Insider Activity

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the SEC, which is available through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by corporate 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.