Franklin Street Advisors Inc. NC Has $4.84 Million Position in RTX Co. (NYSE:RTX)

Franklin Street Advisors Inc. NC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 456.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,475 shares of the company’s stock after buying an additional 47,155 shares during the period. Franklin Street Advisors Inc. NC’s holdings in RTX were worth $4,836,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Ocean Capital Management LLC grew its stake in RTX by 123.7% in the fourth quarter. Ocean Capital Management LLC now owns 18,161 shares of the company’s stock valued at $1,528,000 after purchasing an additional 10,041 shares in the last quarter. Uncommon Cents Investing LLC grew its stake in shares of RTX by 0.9% in the fourth quarter. Uncommon Cents Investing LLC now owns 57,044 shares of the company’s stock valued at $4,800,000 after buying an additional 485 shares in the last quarter. AMI Investment Management Inc. increased its holdings in RTX by 4.8% during the fourth quarter. AMI Investment Management Inc. now owns 37,439 shares of the company’s stock worth $3,150,000 after buying an additional 1,721 shares during the last quarter. Peak Financial Management Inc. raised its position in RTX by 2.3% during the fourth quarter. Peak Financial Management Inc. now owns 6,250 shares of the company’s stock worth $526,000 after acquiring an additional 142 shares in the last quarter. Finally, Ballast Inc. lifted its stake in RTX by 2.2% in the fourth quarter. Ballast Inc. now owns 11,728 shares of the company’s stock valued at $987,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird restated a “neutral” rating and set a $94.00 price objective (up from $88.00) on shares of RTX in a research note on Tuesday, January 16th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. UBS Group increased their price target on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.12.

RTX Price Performance

Shares of NYSE RTX opened at $97.56 on Friday. The stock has a market capitalization of $129.72 billion, a PE ratio of 43.55, a P/E/G ratio of 1.78 and a beta of 0.87. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The business has a fifty day moving average price of $91.41 and a two-hundred day moving average price of $83.52.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. RTX’s dividend payout ratio is 105.36%.

Insider Activity at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 over the last three months. 0.13% of the stock is owned by insiders.

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.