iA Global Asset Management Inc. Raises Stock Position in RTX Co. (NYSE:RTX)

iA Global Asset Management Inc. increased its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 104.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,535 shares of the company's stock after buying an additional 22,795 shares during the period. iA Global Asset Management Inc.'s holdings in RTX were worth $5,154,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RTX. Teacher Retirement System of Texas grew its stake in shares of RTX by 45.0% in the fourth quarter. Teacher Retirement System of Texas now owns 521,575 shares of the company's stock worth $60,357,000 after acquiring an additional 161,757 shares in the last quarter. Investment House LLC grew its stake in RTX by 2.7% during the 4th quarter. Investment House LLC now owns 3,740 shares of the company's stock worth $433,000 after purchasing an additional 100 shares in the last quarter. Vinva Investment Management Ltd increased its holdings in RTX by 206.3% during the 4th quarter. Vinva Investment Management Ltd now owns 31,462 shares of the company's stock worth $3,625,000 after purchasing an additional 21,189 shares during the period. North Forty Two & Co. acquired a new stake in RTX in the 4th quarter valued at about $428,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of RTX in the 4th quarter valued at about $240,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the topic of several analyst reports. Bank of America raised 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. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. StockNews.com downgraded shares of RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $166.40.

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Insider Buying and Selling

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 stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company's stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction on Thursday, February 27th. The stock was 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 directly owns 81,508 shares in the company, 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 sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.15% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of RTX stock traded up $1.15 during trading on Tuesday, reaching $135.84. The company's stock had a trading volume of 3,989,259 shares, compared to its average volume of 5,370,216. The company has a 50-day moving average price of $127.48 and a two-hundred day moving average price of $122.66. RTX Co. has a fifty-two week low of $95.27 and a fifty-two week high of $135.74. The firm has a market cap of $181.36 billion, a PE ratio of 38.26, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 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%. On average, analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

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.