RTX Co. (NYSE:RTX) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its position in RTX Co. (NYSE:RTX) by 104.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 44,535 shares of the company’s stock after acquiring an additional 22,795 shares during the period. iA Global Asset Management Inc.’s holdings in RTX were worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in RTX. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter worth about $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Modus Advisors LLC acquired a new stake in RTX during the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX during the 4th quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC grew its position 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 during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $136.00 to $160.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Bank of America increased their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Trading Down 0.7 %

Shares of RTX stock opened at $134.37 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $126.80 and its 200 day moving average price is $122.47. RTX Co. has a twelve month low of $94.08 and a twelve month high of $135.74. The firm has a market capitalization of $179.40 billion, a PE ratio of 37.85, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % 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 ninety days. 0.15% of the stock is currently owned by corporate insiders.

RTX 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.