Martingale Asset Management L P Acquires 92,939 Shares of RTX Co. (NYSE:RTX)

Martingale Asset Management L P boosted its stake in RTX Co. (NYSE:RTX - Free Report) by 97.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 188,168 shares of the company's stock after purchasing an additional 92,939 shares during the period. Martingale Asset Management L P's holdings in RTX were worth $21,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Fairway Wealth LLC acquired a new position in RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management raised its holdings in shares of 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. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at about $39,000. Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were 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 owns 5,272 shares of the company's stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 in the last three months. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on RTX shares. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a "hold" rating to a "buy" rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.73.

RTX Stock Up 0.9 %

Shares of RTX stock traded up $1.17 during midday trading on Friday, hitting $128.24. The company's stock had a trading volume of 3,654,021 shares, compared to its average volume of 5,504,953. The firm has a market capitalization of $171.21 billion, a P/E ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. 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 50-day simple moving average of $128.56 and a 200-day simple moving average of $123.62.

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

RTX Announces Dividend

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

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.