New York Life Investment Management LLC Buys 1,498 Shares of RTX Co. (NYSE:RTX)

New York Life Investment Management LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 0.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 179,172 shares of the company’s stock after acquiring an additional 1,498 shares during the period. New York Life Investment Management LLC’s holdings in RTX were worth $20,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RTX. MidAtlantic Capital Management Inc. bought a new position in shares of RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the 4th quarter valued at $40,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC boosted its stake in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.0 %

Shares of RTX stock opened at $127.30 on Thursday. RTX Co. has a 1 year low of $88.95 and a 1 year high of $132.43. The business has a 50-day moving average of $122.09 and a two-hundred day moving average of $121.17. The company has a market capitalization of $169.58 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

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 the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

About RTX

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.