PKS Advisory Services LLC Takes Position in RTX Co. (NYSE:RTX)

PKS Advisory Services LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,792 shares of the company’s stock, valued at approximately $670,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Amundi grew its position in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC bought a new stake in shares of RTX in the 4th quarter worth $216,340,000. Vanguard Group Inc. raised its stake in shares of RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of RTX by 19,052.5% during the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock valued at $120,724,000 after purchasing an additional 1,037,792 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the 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 owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. 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 report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Trading Up 1.8 %

RTX stock opened at $134.76 on Tuesday. The company has a market capitalization of $179.92 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $95.27 and a 1-year high of $135.74. The business has a 50 day simple moving average of $127.48 and a two-hundred day simple moving average of $122.66.

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 analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is 70.99%.

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.