Cypress Capital Group Purchases 2,461 Shares of RTX Co. (NYSE:RTX)

Cypress Capital Group boosted its position in shares of RTX Co. (NYSE:RTX) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,857 shares of the company’s stock after acquiring an additional 2,461 shares during the quarter. Cypress Capital Group’s holdings in RTX were worth $4,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter worth $29,000. Western Pacific Wealth Management LP bought a new stake in RTX during the third quarter worth $41,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the fourth quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the period. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Down 3.9 %

Shares of RTX stock opened at $128.66 on Wednesday. The company has a market capitalization of $171.40 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.11 and a beta of 0.82. 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 Co. has a 12-month low of $89.44 and a 12-month high of $135.36. The firm’s 50-day moving average price is $123.30 and its two-hundred day moving average price is $121.59.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX’s payout ratio is 70.99%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

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.