OVERSEA CHINESE BANKING Corp Ltd Purchases New Holdings in RTX Co. (NYSE:RTX)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,072 shares of the company's stock, valued at approximately $240,000.

A number of other large investors have also recently made changes to their positions in the company. Fusion Capital LLC raised its holdings in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after buying an additional 80 shares during the period. McDonough Capital Management Inc increased its holdings in RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. raised its position in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after purchasing an additional 81 shares in the last quarter. Pointe Capital Management LLC lifted its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after buying an additional 81 shares during the period. Finally, Avestar Capital LLC grew its position in shares of RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company's stock worth $1,752,000 after buying an additional 85 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts recently issued reports on RTX shares. StockNews.com lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.40.

RTX Stock Performance

Shares of RTX stock traded up $1.15 during trading on Tuesday, hitting $135.84. 3,989,259 shares of the company's stock were exchanged, compared to its average volume of 5,370,216. RTX Co. has a 52-week low of $95.27 and a 52-week high of $135.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $181.36 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.11 and a beta of 0.78. The business has a 50-day simple moving average of $127.48 and a 200-day simple moving average of $122.66.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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%. On average, research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

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

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated 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 transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred 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 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 have sold 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

RTX Company 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.