Hartford Funds Management Co LLC Raises Position in RTX Co. (NYSE:RTX)

Hartford Funds Management Co LLC grew its position in shares of RTX Co. (NYSE:RTX) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,463 shares of the company’s stock after buying an additional 367 shares during the quarter. Hartford Funds Management Co LLC’s holdings in RTX were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after purchasing an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Sanders Capital LLC grew its stake in shares of RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of RTX by 9.8% in the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after buying an additional 593,305 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RTX shares. Royal Bank of Canada boosted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. UBS Group raised their target price on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.93.

Insider Transactions at RTX

In related news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 127,547 shares of company stock worth $12,553,645 over the last quarter. 0.13% of the stock is currently owned by insiders.

RTX Stock Down 0.9 %

Shares of RTX stock traded down $0.91 during mid-day trading on Tuesday, hitting $101.53. 5,421,537 shares of the stock traded hands, compared to its average volume of 8,106,685. The stock’s fifty day moving average is $95.80 and its two-hundred day moving average is $87.92. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The stock has a market cap of $134.98 billion, a P/E ratio of 39.81, a P/E/G ratio of 1.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. Equities analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 92.55%.

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.