Allworth Financial LP Buys 93,044 Shares of RTX Co. (NYSE:RTX)

Allworth Financial LP grew its stake in RTX Co. (NYSE:RTX) by 219.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,537 shares of the company’s stock after acquiring an additional 93,044 shares during the period. Allworth Financial LP’s holdings in RTX were worth $16,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in shares of RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC boosted its stake in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Jennison Associates LLC boosted its stake in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after acquiring an additional 993,273 shares in the last quarter. Fisher Asset Management LLC boosted its stake in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after acquiring an additional 702,699 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Susquehanna raised 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. Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

RTX Stock Down 2.5 %

Shares of NYSE RTX opened at $122.68 on Friday. The company’s 50-day simple moving average is $120.79 and its 200-day simple moving average is $120.65. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The firm has a market cap of $163.42 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.