Cullen Frost Bankers Inc. Boosts Stock Holdings in RTX Corporation (NYSE:RTX)

Cullen Frost Bankers Inc. grew its stake in shares of RTX Corporation (NYSE:RTX) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,018 shares of the company’s stock after purchasing an additional 9,074 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in RTX were worth $14,176,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. raised its stake in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after buying an additional 79 shares during the last quarter. Guardian Wealth Advisors LLC NC lifted its stake in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock valued at $576,000 after acquiring an additional 82 shares during the period. Foster Victor Wealth Advisors LLC lifted its position in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company’s stock valued at $505,000 after purchasing an additional 82 shares during the period. Weatherly Asset Management L. P. lifted its holdings in RTX by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company’s stock valued at $2,767,000 after acquiring an additional 82 shares during the period. Finally, CLG LLC lifted its stake in shares of RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company’s stock worth $488,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.3%

Shares of NYSE RTX opened at $148.88 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market capitalization of $198.90 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 2.78 and a beta of 0.64. The stock has a 50 day moving average price of $139.99 and a 200 day moving average price of $130.84. RTX Corporation has a 52-week low of $101.75 and a 52-week high of $150.75.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group lifted their price target on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, June 23rd. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.61.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

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.