Pegasus Asset Management Inc. Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Pegasus Asset Management Inc. lessened its position in RTX Co. (NYSE:RTX) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,234 shares of the company’s stock after selling 146 shares during the quarter. RTX makes up 2.1% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Pegasus Asset Management Inc.’s holdings in RTX were worth $5,697,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX during the fourth quarter worth $40,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the third quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC grew its stake in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group increased their price target on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Up 0.9 %

RTX opened at $123.52 on Wednesday. The business has a 50 day simple moving average of $121.03 and a 200-day simple moving average of $120.77. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The stock has a market capitalization of $164.54 billion, a P/E ratio of 34.79, a P/E/G ratio of 2.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued 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, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.