Pinnacle West Asset Management Inc. Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Pinnacle West Asset Management Inc. increased its position in shares of RTX Co. (NYSE:RTX) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,205 shares of the company’s stock after purchasing an additional 200 shares during the period. Pinnacle West Asset Management Inc.’s holdings in RTX were worth $371,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new position in RTX in the third quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC increased its holdings in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on RTX shares. Royal Bank of Canada increased their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

RTX Stock Up 1.5 %

Shares of NYSE RTX opened at $127.30 on Wednesday. RTX Co. has a 1 year low of $88.95 and a 1 year high of $132.43. The firm’s 50 day moving average price is $121.84 and its 200 day moving average price is $121.13. The firm has a market cap of $169.58 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. 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.