Martingale Asset Management L P Purchases 92,939 Shares of RTX Co. (NYSE:RTX)

Martingale Asset Management L P grew its position in RTX Co. (NYSE:RTX) by 97.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 188,168 shares of the company’s stock after acquiring an additional 92,939 shares during the quarter. Martingale Asset Management L P’s holdings in RTX were worth $21,775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter worth $31,000. Picton Mahoney Asset Management grew its stake in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the last quarter. Modus Advisors LLC acquired a new position in RTX during the 4th quarter valued at about $39,000. Millstone Evans Group LLC purchased a new stake in RTX in the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $120.28 on Wednesday. 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 stock has a market capitalization of $160.58 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 2.11 and a beta of 0.58. The firm’s 50 day simple moving average is $128.65 and its 200-day simple moving average is $123.40. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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%. Analysts expect 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. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.10%. RTX’s payout ratio is 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred 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 directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RTX shares. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Wells Fargo & Company dropped their price objective on shares of RTX from $156.00 to $136.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup raised 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 research report on Tuesday, January 21st. Finally, StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.07.

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.