Foster Group Inc. Boosts Stock Position in RTX Co. (NYSE:RTX)

Foster Group Inc. increased its stake in RTX Co. (NYSE:RTX) by 20.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,211 shares of the company’s stock after acquiring an additional 374 shares during the quarter. Foster Group Inc.’s holdings in RTX were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. National Pension Service grew its position in shares of RTX by 15.1% in the fourth 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. Deutsche Bank AG grew its holdings in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after buying an additional 936,953 shares in the last quarter. Archer Investment Corp grew its holdings in shares of RTX by 370.3% in the fourth 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 during the period. Thoroughbred Financial Services LLC grew its holdings in shares of RTX by 43.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock valued at $3,046,000 after purchasing an additional 7,987 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of RTX in the fourth quarter valued at about $3,356,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

RTX Trading Up 0.1%

NYSE RTX opened at $139.21 on Friday. 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 12 month low of $99.07 and a 12 month high of $140.65. The company’s fifty day moving average price is $129.63 and its two-hundred day moving average price is $125.75. The company has a market capitalization of $185.98 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. As a group, research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research analyst reports. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Finally, UBS Group raised their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $159.82.

RTX Company 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.