Coign Capital Advisors LLC Makes New Investment in RTX Co. (NYSE:RTX)

Coign Capital Advisors LLC acquired a new position in shares of RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,194 shares of the company's stock, valued at approximately $832,000. RTX comprises about 0.8% of Coign Capital Advisors LLC's holdings, making the stock its 27th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management increased its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of RTX during the 4th quarter worth $39,000. Modus Advisors LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Up 0.9 %

Shares of RTX traded up $1.17 during mid-day trading on Friday, reaching $128.24. 3,654,021 shares of the stock traded hands, compared to its average volume of 5,504,953. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The firm has a market cap 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 quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $128.56 and a 200 day simple moving average of $123.59.

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RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the 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 of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com cut RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday. Wells Fargo & Company dropped their target price on RTX from $156.00 to $136.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Vertical Research raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $164.73.

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.