Franklin Resources Inc. Purchases 603,159 Shares of RTX Co. (NYSE:RTX)

Franklin Resources Inc. boosted its holdings in shares of RTX Co. (NYSE:RTX) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,611,341 shares of the company’s stock after acquiring an additional 603,159 shares during the quarter. Franklin Resources Inc. owned 1.25% of RTX worth $1,922,264,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter worth $39,000. Millstone Evans Group LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX during the fourth quarter worth $40,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.3 %

Shares of NYSE:RTX opened at $131.68 on Monday. The business’s 50-day moving average is $128.59 and its 200 day moving average is $123.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $97.03 and a 1 year high of $136.17. The firm has a market capitalization 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 released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. On average, research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal 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 dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred 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 directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on RTX shares. Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley lifted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four equities research 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 company. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $166.40.

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.