Yoffe Investment Management LLC Takes $357,000 Position in RTX Co. (NYSE:RTX)

Yoffe Investment Management LLC purchased a new position in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,081 shares of the company's stock, valued at approximately $357,000.

Several other large investors have also recently made changes to their positions in RTX. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth about $39,000. Millstone Evans Group LLC purchased a new stake in RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the 4th quarter valued at about $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This 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 link. Also, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on RTX. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and upped their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, UBS Group raised shares of RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.40.

RTX Trading Down 9.8 %

Shares of NYSE:RTX traded down $12.80 during mid-day trading on Friday, reaching $117.43. 8,524,627 shares of the company were exchanged, compared to its average volume of 5,558,578. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm's 50-day simple moving average is $129.05 and its 200 day simple moving average is $123.35. The firm has a market cap of $156.78 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 2.11 and a beta of 0.58.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. RTX's dividend payout ratio (DPR) is presently 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.