Pictet Asset Management Holding SA Sells 15,335 Shares of RTX Co. (NYSE:RTX)

Pictet Asset Management Holding SA lessened its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 552,231 shares of the company's stock after selling 15,335 shares during the quarter. Pictet Asset Management Holding SA's holdings in RTX were worth $63,904,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of RTX during the 3rd quarter worth $405,000. Freedom Investment Management Inc. lifted its position in RTX by 37.7% during the third quarter. Freedom Investment Management Inc. now owns 3,508 shares of the company's stock valued at $425,000 after purchasing an additional 960 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in RTX by 13.5% during the third quarter. Public Sector Pension Investment Board now owns 58,013 shares of the company's stock valued at $7,029,000 after purchasing an additional 6,900 shares during the period. Vinva Investment Management Ltd increased its position in RTX by 24.9% in the third quarter. Vinva Investment Management Ltd now owns 10,273 shares of the company's stock worth $1,237,000 after buying an additional 2,048 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of RTX by 2,059.9% in the third quarter. Martingale Asset Management L P now owns 95,229 shares of the company's stock worth $11,538,000 after buying an additional 90,820 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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RTX Trading Up 0.6 %

RTX traded up $0.84 on Monday, hitting $132.56. The company had a trading volume of 5,519,690 shares, compared to its average volume of 5,647,828. RTX Co. has a 12-month low of $97.03 and a 12-month 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 business's fifty day simple moving average is $128.59 and its 200 day simple moving average is $123.06. The company has a market cap of $176.97 billion, a PE ratio of 37.34, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last released 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%. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio (DPR) is currently 70.99%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Finally, UBS Group upgraded RTX from a "neutral" rating to a "buy" rating in a research report on Monday, March 24th. Four investment 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $166.40.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction 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 approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company's stock, valued at $5,739,750.45. The trade was a 24.01 % 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 90 days. Insiders own 0.15% of the company's stock.

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.