RTX Co. (NYSE:RTX) Stake Increased by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its stake in RTX Co. (NYSE:RTX) by 2,944.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 274 shares of the company’s stock after acquiring an additional 265 shares during the quarter. Picton Mahoney Asset Management’s holdings in RTX were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in RTX in the third quarter worth $29,000. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter worth $31,000. Modus Advisors LLC acquired a new position in RTX in the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in RTX in the fourth quarter worth $40,000. Finally, Iron Horse Wealth Management LLC boosted 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 worth $43,000 after purchasing an additional 279 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $131.86 on Tuesday. The company has a market capitalization of $176.04 billion, a P/E ratio of 37.14, a PEG ratio of 2.11 and a beta of 0.78. The company has a 50-day simple moving average of $125.69 and a 200 day simple moving average of $122.23. RTX Co. has a fifty-two week low of $92.35 and a fifty-two week high of $135.36. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated 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. This represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Five equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

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.