Tandem Investment Partners LLC Takes $285,000 Position in RTX Co. (NYSE:RTX)

Tandem Investment Partners LLC purchased a new position in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,466 shares of the company's stock, valued at approximately $285,000.

Several other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc bought a new stake in RTX during the 3rd quarter valued at $321,000. iA Global Asset Management Inc. lifted its holdings in shares of RTX by 351.0% in the third quarter. iA Global Asset Management Inc. now owns 21,740 shares of the company's stock worth $2,634,000 after buying an additional 16,920 shares in the last quarter. MML Investors Services LLC boosted its position in shares of RTX by 2.4% in the third quarter. MML Investors Services LLC now owns 375,270 shares of the company's stock valued at $45,468,000 after acquiring an additional 8,644 shares during the period. Raab & Moskowitz Asset Management LLC grew its stake in RTX by 1.7% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 7,413 shares of the company's stock valued at $898,000 after acquiring an additional 122 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of RTX by 6.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 398,268 shares of the company's stock worth $48,254,000 after purchasing an additional 23,290 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.9 %

RTX traded up $1.17 during trading on Friday, reaching $128.24. The stock had a trading volume of 3,654,021 shares, compared to its average volume of 5,512,213. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The company has a market capitalization of $171.21 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. 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 stock's 50 day moving average is $128.56 and its two-hundred day moving average is $123.59.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RTX. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday. StockNews.com lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Vertical Research raised shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and an average price target of $164.73.

Insider Buying and Selling at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by 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.