Pinnacle Financial Partners Inc Acquires 633 Shares of RTX Co. (NYSE:RTX)

Pinnacle Financial Partners Inc increased its holdings in RTX Co. (NYSE:RTX) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,129 shares of the company’s stock after purchasing an additional 633 shares during the period. Pinnacle Financial Partners Inc’s holdings in RTX were worth $3,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Avestar Capital LLC boosted its stake in shares of RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares in the last quarter. Arbor Wealth Advisors LLC lifted its holdings in RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after purchasing an additional 85 shares during the last quarter. Moloney Securities Asset Management LLC boosted its position in RTX by 0.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after purchasing an additional 85 shares during the period. Traveka Wealth LLC grew its holdings in RTX by 3.2% during the fourth quarter. Traveka Wealth LLC now owns 2,789 shares of the company’s stock valued at $323,000 after purchasing an additional 86 shares during the last quarter. Finally, MCF Advisors LLC raised its position in shares of RTX by 0.9% in the fourth quarter. MCF Advisors LLC now owns 10,053 shares of the company’s stock valued at $1,163,000 after purchasing an additional 87 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the topic of a number of research analyst reports. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Bank of America increased their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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 on 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 sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

RTX Trading Down 1.5 %

Shares of RTX stock opened at $123.23 on Friday. The firm has a fifty day moving average of $121.49 and a 200-day moving average of $120.93. The stock has a market cap of $164.16 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted 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 net margin of 5.91% and a return on equity of 12.45%. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX’s dividend 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.