Vinva Investment Management Ltd Buys 21,189 Shares of RTX Co. (NYSE:RTX)

Vinva Investment Management Ltd grew its holdings in RTX Co. (NYSE:RTX) by 206.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,462 shares of the company’s stock after purchasing an additional 21,189 shares during the quarter. Vinva Investment Management Ltd’s holdings in RTX were worth $3,625,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. North Forty Two & Co. acquired a new position in RTX in the fourth quarter valued at about $428,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of RTX during the fourth quarter worth about $240,000. Brooklyn FI LLC bought a new position in shares of RTX during the fourth quarter worth about $533,000. Enhancing Capital LLC acquired a new position in RTX during the fourth quarter valued at approximately $1,768,000. Finally, Evoke Wealth LLC boosted its position in RTX by 1.0% during the fourth quarter. Evoke Wealth LLC now owns 14,094 shares of the company’s stock valued at $1,631,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RTX. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Price Performance

Shares of RTX opened at $135.47 on Thursday. The business has a 50-day simple moving average of $126.43 and a two-hundred day simple moving average of $122.39. RTX Co. has a 12-month low of $94.08 and a 12-month high of $136.01. The stock has a market cap of $180.86 billion, a PE ratio of 38.16, a PEG ratio of 2.11 and a beta of 0.78. 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 released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.86%. RTX’s payout ratio is currently 70.99%.

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.