Allstate Corp Takes $4.56 Million Position in RTX Co. (NYSE:RTX)

Allstate Corp purchased a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 39,424 shares of the company’s stock, valued at approximately $4,562,000.

Other large investors have also bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of RTX in the fourth quarter valued at about $39,000. Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the fourth quarter worth about $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Bank of America lifted 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. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Trading Down 1.3 %

NYSE RTX opened at $131.68 on Friday. RTX Co. has a 12 month low of $97.03 and a 12 month high of $136.17. 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 stock’s fifty day moving average price is $128.59 and its 200-day moving average price is $123.01. The stock has a market cap of $175.81 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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, equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.91%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company’s stock.

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.