Pinnacle Financial Partners Inc Has $2.15 Million Stock Holdings in RTX Co. (NYSE:RTX)

Pinnacle Financial Partners Inc boosted its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 6.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,488 shares of the company’s stock after buying an additional 1,603 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in RTX were worth $2,145,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RTX. Monte Financial Group LLC boosted its position in shares of RTX by 2.8% during the fourth quarter. Monte Financial Group LLC now owns 69,653 shares of the company’s stock worth $5,861,000 after purchasing an additional 1,912 shares in the last quarter. SNS Financial Group LLC bought a new position in shares of RTX during the fourth quarter worth $202,000. Sigma Investment Counselors Inc. boosted its position in shares of RTX by 1.4% during the fourth quarter. Sigma Investment Counselors Inc. now owns 30,728 shares of the company’s stock worth $2,585,000 after purchasing an additional 414 shares in the last quarter. Essex Savings Bank boosted its position in shares of RTX by 3.8% during the fourth quarter. Essex Savings Bank now owns 27,968 shares of the company’s stock worth $2,353,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Silverlake Wealth Management LLC boosted its position in shares of RTX by 3.7% during the fourth quarter. Silverlake Wealth Management LLC now owns 3,661 shares of the company’s stock worth $308,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.8 %

Shares of NYSE RTX opened at $98.55 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91. The firm has a 50 day moving average price of $92.08 and a two-hundred day moving average price of $84.09. The stock has a market cap of $131.04 billion, a P/E ratio of 44.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

RTX (NYSE:RTXGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders 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 2.39%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $94.00 price objective (up from $88.00) on shares of RTX in a research report on Tuesday, January 16th. TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research report on Monday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $95.12.

Check Out Our Latest Report on RTX

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last three months. 0.13% of the stock is owned by company insiders.

RTX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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