Scotia Capital Inc. Buys Shares of 152,548 RTX Co. (NYSE:RTX)

Scotia Capital Inc. purchased a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 152,548 shares of the company’s stock, valued at approximately $17,653,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RTX shares. UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Four 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. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.73.

RTX Stock Performance

RTX opened at $126.97 on Friday. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The company has a market cap of $169.52 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.11 and a beta of 0.58. The company’s fifty day moving average price is $128.56 and its two-hundred day moving average price is $123.54. 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 (NYSE:RTX) last announced its quarterly 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 net margin of 5.91% and a return on equity of 12.45%. On average, analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’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 approximately $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. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate 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.