RTX Co. (NYSE:RTX) Shares Acquired by Prudential PLC

Prudential PLC increased its holdings in RTX Co. (NYSE:RTX) by 84.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 63,717 shares of the company’s stock after buying an additional 29,131 shares during the period. Prudential PLC’s holdings in RTX were worth $7,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management raised 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 valued at $31,000 after acquiring an additional 265 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in RTX during the 4th quarter worth approximately $39,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 9.8 %

NYSE:RTX opened at $117.43 on Friday. The company has a market capitalization of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. The stock has a fifty day simple moving average of $129.05 and a 200-day simple moving average of $123.35. 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 announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. On average, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. RTX’s dividend payout ratio is currently 70.99%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Activity at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last quarter. Insiders own 0.15% of the company’s stock.

RTX Company 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.