Grandfield & Dodd LLC Has $28.77 Million Holdings in RTX Co. (NYSE:RTX)

by · The Markets Daily

Grandfield & Dodd LLC grew its position in shares of RTX Co. (NYSE:RTX – Free Report) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,925 shares of the company’s stock after acquiring an additional 41,218 shares during the quarter. RTX comprises 2.0% of Grandfield & Dodd LLC’s holdings, making the stock its 17th largest holding. Grandfield & Dodd LLC’s holdings in RTX were worth $28,770,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC purchased a new stake in RTX in the 4th quarter valued at $2,438,000. B&D White Capital Company LLC bought a new position in RTX during the 3rd quarter valued at $14,186,000. Cullen Investment Group LTD. purchased a new position in RTX during the 4th quarter worth $843,000. Finally, Hurlow Wealth Management Group Inc. bought a new stake in shares of RTX in the 4th quarter worth $206,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Finally, UBS Group boosted their price target on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $94.44.

Get Our Latest Research Report on RTX

Insider Activity at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. In the last three months, insiders have 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

Shares of NYSE RTX traded up $0.85 during midday trading on Friday, hitting $101.56. 10,328,788 shares of the company’s stock were exchanged, compared to its average volume of 7,908,590. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $94.55 and its two-hundred day moving average price is $86.44. The company has a market cap of $135.04 billion, a price-to-earnings ratio of 45.34, a PEG ratio of 1.83 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.32.

RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 EPS. As a group, research analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is currently 105.36%.

RTX Profile

(Free Report)

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.

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