T. Rowe Price Investment Management Inc. Grows Stock Position in RTX Co. (NYSE:RTX)

T. Rowe Price Investment Management Inc. grew its position in shares of RTX Co. (NYSE:RTX) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,508,662 shares of the company’s stock after purchasing an additional 3,164,844 shares during the period. RTX makes up about 0.8% of T. Rowe Price Investment Management Inc.’s investment portfolio, making the stock its 26th largest position. T. Rowe Price Investment Management Inc. owned approximately 0.79% of RTX worth $1,216,063,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CX Institutional grew its stake in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after acquiring an additional 11,706 shares in the last quarter. National Pension Service grew its stake in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares in the last quarter. Czech National Bank increased its holdings in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Archer Investment Corp raised its position in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after purchasing an additional 4,151 shares in the last quarter. Finally, Optas LLC boosted its stake in shares of RTX by 114.5% during the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock valued at $817,000 after buying an additional 3,770 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX stock opened at $113.98 on Wednesday. The business has a 50 day simple moving average of $128.33 and a 200 day simple moving average of $123.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $152.17 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts anticipate 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 issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Morgan Stanley increased their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Citigroup lowered their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.27.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $3,569,126.44. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last quarter. 0.15% of the stock is currently owned by company insiders.

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.