Ballentine Partners LLC Purchases 825 Shares of RTX Co. (NYSE:RTX)

Ballentine Partners LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 28,139 shares of the company’s stock after buying an additional 825 shares during the period. Ballentine Partners LLC’s holdings in RTX were worth $3,409,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RTX. Capital Research Global Investors grew its stake in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors grew its holdings in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Legal & General Group Plc lifted its position in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Susquehanna increased their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $168.56.

Insider Transactions at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,856 shares of company stock valued at $17,131,253. 0.13% of the stock is owned by corporate insiders.

RTX Price Performance

NYSE:RTX opened at $125.50 on Friday. The firm’s fifty day moving average price is $121.59 and its two-hundred day moving average price is $111.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $166.85 billion, a P/E ratio of 49.09, a P/E/G ratio of 2.21 and a beta of 0.82. RTX Co. has a one year low of $77.76 and a one year high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts expect that RTX Co. will post 5.5 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s payout ratio is 98.82%.

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.