Sumitomo Mitsui Trust Group Inc. Has $342.89 Million Holdings in RTX Co. (NYSE:RTX)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of RTX Co. (NYSE:RTX) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,963,067 shares of the company’s stock after acquiring an additional 25,407 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of RTX worth $342,886,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the 3rd quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter worth $39,000. Western Pacific Wealth Management LP bought a new position in RTX during the third quarter worth $41,000. Iron Horse Wealth Management LLC raised its stake in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in RTX in the 3rd quarter worth $50,000. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.3 %

RTX stock opened at $128.80 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $171.43 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 2.17 and a beta of 0.82. The business has a fifty day moving average price of $119.87 and a 200 day moving average price of $119.90. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts expect that RTX Co. will post 6.12 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, UBS Group increased their price objective on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

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.