Conning Inc. Boosts Stake in RTX Co. (NYSE:RTX)

Conning Inc. grew its stake in RTX Co. (NYSE:RTX) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 319,640 shares of the company’s stock after acquiring an additional 2,181 shares during the quarter. RTX comprises about 1.3% of Conning Inc.’s portfolio, making the stock its 12th biggest position. Conning Inc.’s holdings in RTX were worth $36,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. purchased a new position in RTX in the third quarter worth $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the 3rd quarter worth $41,000. Modus Advisors LLC purchased a new position in RTX during the 4th quarter worth $39,000. Iron Horse Wealth Management LLC increased its position in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in RTX in the third quarter valued at about $50,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RTX shares. Wells Fargo & Company upped their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Barclays raised their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

RTX Trading Down 0.6 %

Shares of NYSE:RTX opened at $128.07 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The business has a 50 day moving average of $119.99 and a two-hundred day moving average of $120.07. The company has a market capitalization of $170.60 billion, a PE ratio of 36.08, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s payout ratio is 70.99%.

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.