Highland Capital Management LLC Boosts Stake in RTX Co. (NYSE:RTX)

Highland Capital Management LLC raised its position in RTX Co. (NYSE:RTX) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 120,386 shares of the company’s stock after buying an additional 815 shares during the period. Highland Capital Management LLC’s holdings in RTX were worth $10,129,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Norges Bank purchased a new stake in RTX in the 4th quarter valued at about $1,580,608,000. Moneta Group Investment Advisors LLC increased its stake in shares of RTX by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after purchasing an additional 13,598,794 shares during the last quarter. Boston Partners purchased a new stake in shares of RTX during the 3rd quarter worth approximately $355,350,000. Morgan Stanley increased its stake in shares of RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of RTX by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after purchasing an additional 2,256,475 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent research reports. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. TD Cowen raised their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Robert W. Baird reissued a “neutral” rating and issued a $94.00 price target (up from $88.00) on shares of RTX in a report on Tuesday, January 16th. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and raised their price target for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target of $95.12.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 over the last 90 days. 0.13% of the stock is owned by company insiders.

RTX Price Performance

RTX stock opened at $97.45 on Thursday. The firm’s 50-day moving average price is $91.16 and its two-hundred day moving average price is $83.42. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91. The stock has a market capitalization of $129.57 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 1.75 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

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.