Pictet Asset Management Holding SA Decreases Stake in RTX Co. (NYSE:RTX)

Pictet Asset Management Holding SA lessened its holdings in shares of RTX Co. (NYSE:RTX) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 552,231 shares of the company’s stock after selling 15,335 shares during the period. Pictet Asset Management Holding SA’s holdings in RTX were worth $63,904,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in RTX during the fourth quarter worth approximately $1,745,644,000. Amundi raised its holdings in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $216,340,000. Finally, Vanguard Group Inc. increased its position in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Baird R W raised shares of 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 given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Down 1.3 %

RTX stock opened at $131.68 on Friday. The firm has a market capitalization of $175.81 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17. The stock’s fifty day simple moving average is $128.59 and its 200-day simple moving average is $123.03.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the 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 owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by corporate insiders.

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.