Pioneer Trust Bank N A OR Boosts Stake in RTX Co. (NYSE:RTX)

Pioneer Trust Bank N A OR lifted its stake in RTX Co. (NYSE:RTX) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,262 shares of the company’s stock after purchasing an additional 2,470 shares during the period. Pioneer Trust Bank N A OR’s holdings in RTX were worth $3,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Boston Partners bought a new position in shares of RTX during the 3rd quarter valued at about $355,350,000. Van ECK Associates Corp lifted its stake in RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after purchasing an additional 2,294,908 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares during the last quarter. Sanders Capital LLC lifted its stake in RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in RTX by 12,753.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after purchasing an additional 1,389,143 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RTX. Robert W. Baird lifted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Royal Bank of Canada lifted their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Barclays lifted their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, UBS Group lifted their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average target price of $96.93.

RTX Price Performance

RTX stock traded up $1.80 during trading on Thursday, hitting $105.74. The stock had a trading volume of 6,670,075 shares, compared to its average volume of 8,030,289. The company’s 50-day moving average price is $97.48 and its two-hundred day moving average price is $89.21. RTX Co. has a twelve month low of $68.56 and a twelve month high of $105.76. The stock has a market capitalization of $140.58 billion, a P/E ratio of 40.73, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. As a group, research analysts predict that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.38%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is 92.55%.

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 135,618 shares of company stock worth $13,397,978 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.