Cullen Frost Bankers Inc. Has $11.33 Million Stake in RTX Co. (NYSE:RTX)

Cullen Frost Bankers Inc. increased its stake in RTX Co. (NYSE:RTX) by 4.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 97,944 shares of the company’s stock after purchasing an additional 4,397 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in RTX were worth $11,334,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the third quarter worth $29,000. Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter worth $41,000. Modus Advisors LLC bought a new stake in RTX during the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the fourth quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. Morgan Stanley increased their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Price Performance

Shares of RTX stock opened at $128.27 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock’s fifty day simple moving average is $123.56 and its 200 day simple moving average is $121.65. RTX Co. has a one year low of $89.44 and a one year high of $135.36. The firm has a market cap of $170.87 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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, analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the company’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 transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.13% of the stock is owned by corporate insiders.

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.