Cutler Investment Counsel LLC Acquires 56,054 Shares of RTX Co. (NYSE:RTX)

Cutler Investment Counsel LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 79.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,748 shares of the company’s stock after purchasing an additional 56,054 shares during the quarter. RTX makes up about 1.5% of Cutler Investment Counsel LLC’s holdings, making the stock its 28th biggest holding. Cutler Investment Counsel LLC’s holdings in RTX were worth $10,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of RTX. Norges Bank purchased a new position in shares of RTX in the 4th quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC lifted its position in RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after buying an additional 13,598,794 shares during the period. Boston Partners purchased a new position in RTX during the third quarter valued at $355,350,000. Morgan Stanley grew its position in shares of RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after buying an additional 3,104,282 shares during the period. Finally, Capital World Investors increased its stake in shares of RTX by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after acquiring an additional 2,256,475 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTX. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. UBS Group lifted their target price on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and increased their price target for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Barclays boosted their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada boosted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.44.

Insider Activity at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded up $1.35 during trading on Friday, reaching $102.06. The company’s stock had a trading volume of 3,039,351 shares, compared to its average volume of 8,171,896. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average is $94.33 and its 200-day moving average is $86.23. The company has a market capitalization of $135.70 billion, a P/E ratio of 44.95, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.32.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the business posted $1.27 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.31%. RTX’s dividend payout ratio is 105.36%.

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.