RTX Co. (NYSE:RTX) Shares Sold by Associated Banc Corp

Associated Banc Corp trimmed its position in shares of RTX Co. (NYSE:RTX) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 343,886 shares of the company’s stock after selling 9,905 shares during the period. RTX makes up about 1.2% of Associated Banc Corp’s holdings, making the stock its 18th biggest holding. Associated Banc Corp’s holdings in RTX were worth $39,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional increased its holdings in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after buying an additional 11,706 shares during the last quarter. National Pension Service increased its holdings in 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 purchasing an additional 375,781 shares in the last quarter. LRI Investments LLC increased its holdings in 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 in the last quarter. Napa Wealth Management acquired a new stake in RTX in the 3rd quarter valued at $1,307,000. Finally, Czech National Bank increased its holdings in RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This trade represents a 21.30 % 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 firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of 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 79,831 shares of company stock valued at $10,309,302 over the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $142.00 to $147.00 in a report on Monday, February 24th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Morgan Stanley upped their price objective 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. Finally, Susquehanna upped their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Performance

Shares of RTX stock opened at $130.00 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a one year low of $91.05 and a one year high of $135.36. The company’s 50-day simple moving average is $125.33 and its 200-day simple moving average is $122.14. The stock has a market capitalization of $173.56 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.11 and a beta of 0.78.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. 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 1.94%. RTX’s dividend payout ratio is currently 70.99%.

About RTX

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.