Lee Danner & Bass Inc. Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Lee Danner & Bass Inc. raised its stake in RTX Co. (NYSE:RTX) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,094 shares of the company’s stock after buying an additional 521 shares during the period. RTX makes up approximately 1.3% of Lee Danner & Bass Inc.’s holdings, making the stock its 16th largest holding. Lee Danner & Bass Inc.’s holdings in RTX were worth $16,675,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in RTX. Amundi increased its holdings in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in RTX by 545.6% in 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 buying an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in RTX in the fourth quarter valued at about $216,340,000. Proficio Capital Partners LLC increased its holdings in RTX by 19,052.5% in the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock valued at $120,724,000 after buying an additional 1,037,792 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings 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 buying an additional 993,273 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the business’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 sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. Wells Fargo & Company increased their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Down 0.7 %

RTX stock opened at $134.37 on Friday. The stock has a market capitalization of $179.40 billion, a P/E ratio of 37.85, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a one year low of $94.08 and a one year high of $135.74. The company has a 50 day moving average price of $126.80 and a two-hundred day moving average price of $122.47.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.88%. RTX’s dividend payout ratio is presently 70.99%.

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.