Mechanics Financial Corp Purchases 4,860 Shares of RTX Co. (NYSE:RTX)

Mechanics Financial Corp grew its position in shares of RTX Co. (NYSE:RTX - Free Report) by 360.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,210 shares of the company's stock after purchasing an additional 4,860 shares during the period. Mechanics Financial Corp's holdings in RTX were worth $719,000 at the end of the most recent quarter.

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A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Norges Bank purchased a new stake in shares of RTX in the 4th quarter valued at about $1,745,644,000. Amundi raised its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in RTX in the 4th quarter worth approximately $216,340,000. Finally, Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Down 1.3 %

Shares of NYSE RTX opened at $131.68 on Friday. RTX Co. has a 12 month low of $97.03 and a 12 month high of $136.17. The firm has a market capitalization of $175.81 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm has a fifty day simple moving average of $128.59 and a two-hundred day simple moving average of $123.01. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

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RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX's payout ratio is 70.99%.

Insider Buying and Selling

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In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last three months. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RTX. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.40.

Get Our Latest Stock Report on RTX

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.

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