Clifford Swan Investment Counsel LLC Purchases 39,243 Shares of RTX Co. (NYSE:RTX)

Clifford Swan Investment Counsel LLC grew its position in RTX Co. (NYSE:RTX) by 21.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 223,016 shares of the company’s stock after buying an additional 39,243 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in RTX were worth $18,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new stake in RTX in the fourth quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the 3rd quarter valued at approximately $28,000. Planned Solutions Inc. bought a new stake in shares of RTX in the 4th quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Finally, Valley National Advisers Inc. grew its position in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 0.5 %

NYSE:RTX traded down $0.49 on Friday, reaching $101.40. The company’s stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The business’s 50-day moving average price is $96.70 and its two-hundred day moving average price is $88.60. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 92.55%.

Insider Transactions at RTX

In related news, 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 completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold 137,842 shares of company stock valued at $13,603,426 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTX. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. TD Cowen raised their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Bank of America boosted their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $96.93.

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.