SVB Wealth LLC Acquires New Position in RTX Co. (NYSE:RTX)

SVB Wealth LLC bought a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,511 shares of the company’s stock, valued at approximately $4,457,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RTX. CX Institutional lifted its holdings in RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after acquiring an additional 11,706 shares during the last quarter. National Pension Service raised its position in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares during the period. LRI Investments LLC lifted 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 purchasing an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new position in shares of RTX during the 3rd quarter worth $1,307,000. Finally, Czech National Bank increased its position in shares of RTX by 6.5% during the 4th 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. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,334 shares of company stock worth $4,639,194. 0.13% of the stock is currently owned by insiders.

RTX Stock Up 1.9 %

Shares of NYSE:RTX opened at $133.02 on Friday. RTX Co. has a fifty-two week low of $88.95 and a fifty-two week high of $133.09. The firm’s 50 day moving average price is $122.72 and its 200 day moving average price is $121.38. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $177.19 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

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.