Sompo Asset Management Co. Ltd. Increases Stock Position in RTX Co. (NYSE:RTX)

Sompo Asset Management Co. Ltd. boosted its position in shares of RTX Co. (NYSE:RTX) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,620 shares of the company’s stock after acquiring an additional 190 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in RTX were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in shares of RTX in the fourth quarter worth about $31,000. Picton Mahoney Asset Management boosted its stake in RTX by 2,944.4% during the fourth 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 period. Modus Advisors LLC purchased a new stake in RTX in the 4th quarter worth about $39,000. Millstone Evans Group LLC bought a new stake in shares of RTX during the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX during the fourth quarter valued at $40,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

RTX stock opened at $113.98 on Wednesday. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $152.17 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The stock has a fifty day moving average of $128.33 and a 200-day moving average of $123.77.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts expect 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. 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 2.21%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Analysts Set New Price Targets

A number of equities analysts recently commented on RTX shares. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley increased their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.27.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on 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 directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares of the company’s stock, valued at $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Company 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.