Norden Group LLC Decreases Stake in RTX Co. (NYSE:RTX)

Norden Group LLC lessened its stake in RTX Co. (NYSE:RTX) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,044 shares of the company’s stock after selling 738 shares during the quarter. Norden Group LLC’s holdings in RTX were worth $4,402,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional boosted its stake in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after buying an additional 11,706 shares during the period. National Pension Service boosted its stake in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after buying an additional 375,781 shares during the period. LRI Investments LLC boosted its stake in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management purchased a new stake in RTX during the third quarter worth approximately $1,307,000. Finally, Czech National Bank lifted its stake in RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was 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. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s 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 transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,334 shares of company stock valued at $4,639,194 over the last quarter. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Trading Up 1.9 %

NYSE:RTX opened at $133.02 on Friday. The firm has a market cap of $177.19 billion, a P/E ratio of 37.47, a PEG ratio of 2.11 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $122.72 and its 200-day simple moving average is $121.38. RTX Co. has a 12-month low of $88.95 and a 12-month high of $133.09.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

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.