The Manufacturers Life Insurance Company Buys 52,471 Shares of RTX Co. (NYSE:RTX)

The Manufacturers Life Insurance Company lifted its holdings in shares of RTX Co. (NYSE:RTX) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,377,769 shares of the company’s stock after purchasing an additional 52,471 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of RTX worth $159,435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. Geode Capital Management LLC raised its stake in shares of RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC raised its stake in shares of RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. raised its stake in RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the period. Finally, Norges Bank bought a new stake in RTX in the 4th quarter valued at about $1,745,644,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX stock opened at $124.79 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market capitalization of $166.71 billion, a P/E ratio of 35.15, a PEG ratio of 2.11 and a beta of 0.58. The business has a 50-day moving average price of $128.30 and a 200 day moving average price of $123.75. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 73.90%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna reduced their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley raised 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. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted 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. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $161.06.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

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.