Pinnacle Financial Partners Inc Increases Holdings in RTX Co. (NYSE:RTX)

Pinnacle Financial Partners Inc grew its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,488 shares of the company’s stock after buying an additional 1,603 shares during the period. Pinnacle Financial Partners Inc’s holdings in RTX were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RTX. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in RTX by 94.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after buying an additional 156,550 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in RTX by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after buying an additional 931 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in RTX by 1.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after buying an additional 128 shares during the last quarter. AMI Investment Management Inc. lifted its holdings in shares of RTX by 53.1% in the 1st quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after purchasing an additional 12,316 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of RTX by 1.4% in the 1st quarter. LSV Asset Management now owns 141,700 shares of the company’s stock valued at $14,038,000 after purchasing an additional 2,000 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred 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 sale, 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 37,785 shares of company stock worth $3,448,188 in the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $98.55 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $92.08 and its two-hundred day moving average is $84.09. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91. The stock has a market capitalization of $131.04 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 1.78 and a beta of 0.88.

RTX (NYSE:RTXGet Free Report) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Research analysts expect that RTX Co. will post 5.39 EPS for the current 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. Barclays boosted their target price on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, Robert W. Baird restated a “neutral” rating and issued a $94.00 price target (up previously from $88.00) on shares of RTX in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.12.

Check Out Our Latest Report on RTX

About RTX

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for RTX (NYSE:RTX)

Receive News & Ratings for RTX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RTX and related companies with MarketBeat.com's FREE daily email newsletter.