Hickory Point Bank & Trust Invests $292,000 in RTX Co. (NYSE:RTX)

Hickory Point Bank & Trust has made a significant investment in RTX Co. (NYSE:RTX) by purchasing 2,522 shares during the fourth quarter. This investment is recorded in the company's latest 13F filing with the Securities and Exchange Commission and is valued at approximately $292,000.

Other Institutional Investments in RTX

Several other institutional investors have also made changes to their stake in RTX. For instance, Principal Securities Inc. increased its holding by 6.9% during the third quarter, owning now 30,926 shares valued at $3,747,000 after acquiring an additional 2,008 shares. Americana Partners LLC also increased its position by 1.1%, now holding 15,690 shares worth $1,901,000 after an additional purchase of 173 shares. Weatherly Asset Management L.P. raised its holdings by 7.6%, acquiring 1,465 shares to now own 20,719 shares valued at $2,510,000. Farther Finance Advisors LLC also saw a significant increase of 18.1%, acquiring 5,414 additional shares for a total of 35,276 shares valued at $4,274,000. Lastly, Phillips Wealth Planners LLC raised its holdings by 7.7%, owning 3,406 shares after buying an additional 243 shares, valued at $430,000. Overall, institutional investors hold around 86.50% of the company’s stock.

Current Stock Performance

As of Friday, the stock price for RTX opened at $133.02, reflecting a 1.9% increase. The company’s fifty-day moving average stands at $122.72 and the 200-day moving average at $121.38. Over the past year, RTX has seen a low of $88.95 and a high of $133.09. The company enjoys a debt-to-equity ratio of 0.63, a quick ratio of 0.74, and a current ratio of 0.99. RTX Co. has a market capitalization of $177.19 billion, a P/E ratio of 37.47, and a P/E/G ratio of 2.11, with a beta value of 0.82.

Quarterly Earnings and Dividend Announcement

Recently, RTX released its quarterly earnings report on January 28th, where it reported an earnings per share (EPS) of $1.54, exceeding the consensus estimate of $1.35 by $0.19. The company achieved a return on equity of 12.45% and a net margin of 5.91%. Looking ahead, research analysts predict that RTX Co. will achieve an EPS of 6.11 for the current fiscal year. Additionally, RTX has announced a quarterly dividend of $0.63 per share, scheduled to be paid on March 20th to investors recorded by February 21st, providing an annualized dividend yield of 1.89%, with a payout ratio of 70.99%.

Analyst Ratings and Predictions

Several research analysts have recently changed their ratings for RTX shares. Vertical Research upgraded RTX to a "strong-buy" rating. In contrast, StockNews.com downgraded its rating from "buy" to "hold". Argus upgraded the stock from "hold" to "buy" rating, while Wells Fargo & Company increased their price target from $151.00 to $156.00 and maintained an "overweight" rating. Susquehanna raised their price target from $139.00 to $147.00 and assigned a "positive" rating. It’s worth noting that the overall consensus rating on the stock is "Moderate Buy" with a price target average sitting at $163.40.

Insider Trading Activities

Recent insider trading activities include a sale by Troy D. Brunk, who sold 2,872 shares at an average price of $125.95 for a total of $361,728.40 on February 24th. Following the sale, Brunk holds 5,272 shares valued at approximately $664,008.40, amounting to a 35.27% reduction in his position. Furthermore, EVP Dantaya M. Williams sold 14,031 shares on February 5th at an average price of $129.23 for a total of $1,813,226.13. Post-sale, Williams retains 44,415 shares valued at around $5,739,750.45, which reflects a 24.01% decrease in ownership. A total of 36,334 shares were sold by insiders in the last three months, representing a mere 0.13% of total outstanding shares being held by corporate insiders.

About RTX Corporation

RTX Corporation specializes in aerospace and defense systems and provides services for both commercial and military clients in the United States and worldwide. The company operates in three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. Collins Aerospace Systems is responsible for offering various aerospace and defense products along with aftermarket services for both civil and military aircraft manufacturers, commercial airlines, and more.

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