City National Bank of Florida MSD Takes $419,000 Position in RTX Co. (NYSE:RTX)

City National Bank of Florida MSD purchased a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,623 shares of the company’s stock, valued at approximately $419,000.

A number of other large investors have also recently bought and sold shares of the business. 1620 Investment Advisors Inc. lifted its position in RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after acquiring an additional 79 shares during the period. Fusion Capital LLC lifted its holdings in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc grew its position in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. increased its stake in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after buying an additional 81 shares during the period. Finally, Pointe Capital Management LLC raised its position in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of RTX 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 sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock worth $9,024,856 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup lowered their price objective on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Buy” and a consensus price target of $159.82.

RTX Trading Down 1.6%

NYSE:RTX opened at $134.93 on Thursday. RTX Co. has a 52-week low of $99.07 and a 52-week high of $138.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $129.10 and a 200-day simple moving average of $124.52. The company has a market capitalization of $180.25 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX’s payout ratio is 79.77%.

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.