RTX Co. (NYSE:RTX) Shares Acquired by Pitcairn Co.

Pitcairn Co. boosted its position in RTX Co. (NYSE:RTX) by 6.1% in the 4th quarter, HoldingsChannel reports. The firm owned 27,597 shares of the company’s stock after purchasing an additional 1,595 shares during the period. Pitcairn Co.’s holdings in RTX were worth $3,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its stake in shares of 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 purchasing an additional 265 shares during the period. Modus Advisors LLC acquired a new stake in shares of RTX during the fourth quarter worth $39,000. Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in RTX in the fourth quarter valued at $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX stock opened at $133.30 on Thursday. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17. The company has a market capitalization of $177.97 billion, a PE ratio of 37.55, a price-to-earnings-growth 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. The firm has a fifty day simple moving average of $129.13 and a 200-day simple moving average of $123.31.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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 anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced 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 1.89%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on RTX shares. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Susquehanna boosted 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. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Royal Bank of Canada upped their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

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.