Summit Global Investments acquired a new stake in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,303 shares of the company's stock, valued at approximately $614,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management lifted its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter worth about $39,000. Modus Advisors LLC acquired a new stake in shares of RTX during the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 86.50% of the company's stock.
Insider Activity at RTX
In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated 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 of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have commented on RTX. StockNews.com lowered RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. UBS Group upgraded shares of RTX from a "neutral" rating to a "buy" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Four equities 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 company. According to MarketBeat.com, RTX presently has an average rating of "Moderate Buy" and an average target price of $166.40.
Read Our Latest Analysis on RTX
RTX Price Performance
RTX stock traded up $0.82 during trading hours on Tuesday, hitting $135.51. The stock had a trading volume of 1,898,981 shares, compared to its average volume of 5,370,216. RTX Co. has a 1-year low of $95.27 and a 1-year high of $135.74. The stock has a market capitalization of $180.91 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 2.11 and a beta of 0.78. The stock's fifty day moving average is $127.48 and its two-hundred day moving average is $122.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.
RTX (NYSE:RTX - Get Free Report) last posted 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 net margin of 5.91% and a return on equity of 12.45%. As a group, analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.
RTX Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.
RTX Profile
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Free Report)
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.
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