Kentucky Trust Co Makes New Investment in RTX Co. (NYSE:RTX)

Kentucky Trust Co acquired a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, Holdings Channel reports. The fund acquired 21,351 shares of the company’s stock, valued at approximately $2,471,000. RTX comprises about 1.5% of Kentucky Trust Co’s investment portfolio, making the stock its 18th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional raised its stake in RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after acquiring an additional 11,706 shares during the period. LRI Investments LLC raised its stake in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management bought a new stake in RTX in the 3rd quarter valued at about $1,307,000. Czech National Bank raised its stake in RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after acquiring an additional 17,608 shares during the period. Finally, Archer Investment Corp raised its stake in RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after acquiring an additional 4,151 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX stock opened at $129.01 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $171.86 billion, a PE ratio of 36.34, a P/E/G ratio of 2.17 and a beta of 0.82. The business has a 50 day moving average of $120.40 and a 200 day moving average of $120.49. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates 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 research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. UBS Group boosted their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Susquehanna boosted their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX 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.