Holderness Investments Co. Buys 462 Shares of RTX Co. (NYSE:RTX)

Holderness Investments Co. grew its stake in shares of RTX Co. (NYSE:RTX) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,929 shares of the company’s stock after purchasing an additional 462 shares during the period. Holderness Investments Co.’s holdings in RTX were worth $2,306,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Symmetry Partners LLC lifted its position in RTX by 21.4% during the 4th quarter. Symmetry Partners LLC now owns 2,260 shares of the company’s stock valued at $262,000 after acquiring an additional 398 shares during the period. Berkeley Capital Partners LLC purchased a new position in RTX during the 4th quarter valued at about $1,203,000. iA Global Asset Management Inc. lifted its position in RTX by 104.9% during the 4th quarter. iA Global Asset Management Inc. now owns 44,535 shares of the company’s stock valued at $5,154,000 after acquiring an additional 22,795 shares during the period. Teacher Retirement System of Texas lifted its position in RTX by 45.0% during the 4th quarter. Teacher Retirement System of Texas now owns 521,575 shares of the company’s stock valued at $60,357,000 after acquiring an additional 161,757 shares during the period. Finally, Investment House LLC lifted its position in RTX by 2.7% during the 4th quarter. Investment House LLC now owns 3,740 shares of the company’s stock valued at $433,000 after acquiring an additional 100 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $134.37 on Friday. The firm has a 50 day moving average of $126.80 and a 200 day moving average of $122.47. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $179.40 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 12-month low of $94.08 and a 12-month high of $135.74.

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%. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.88%. RTX’s payout ratio is currently 70.99%.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 over the last three months. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent research reports. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley lifted their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX 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.