AssuredPartners Investment Advisors LLC Takes Position in RTX Co. (NYSE:RTX)

AssuredPartners Investment Advisors LLC bought a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,470 shares of the company’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NEOS Investment Management LLC grew its stake in RTX by 8.3% during the 4th quarter. NEOS Investment Management LLC now owns 72,269 shares of the company’s stock worth $8,363,000 after purchasing an additional 5,536 shares in the last quarter. UniSuper Management Pty Ltd raised its position in RTX by 2.9% in the 4th quarter. UniSuper Management Pty Ltd now owns 692,900 shares of the company’s stock valued at $80,182,000 after purchasing an additional 19,321 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new position in shares of RTX in the 4th quarter valued at about $14,048,000. Artisan Partners Limited Partnership acquired a new position in shares of RTX during the fourth quarter worth about $5,876,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of RTX by 8.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,121,695 shares of the company’s stock worth $245,841,000 after buying an additional 157,687 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares of the company’s stock, valued at $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last three months. Insiders own 0.15% of the company’s stock.

RTX Trading Down 1.3 %

Shares of RTX stock opened at $131.68 on Friday. 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 company has a market capitalization of $175.81 billion, a P/E ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 1 year low of $97.03 and a 1 year high of $136.17. The company’s fifty day moving average is $128.59 and its two-hundred day moving average is $123.01.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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 forecast that RTX Co. will post 6.11 earnings per share for the current 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 issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RTX shares. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

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.