Pictet Asset Management Holding SA Reduces Position in RTX Co. (NYSE:RTX)

Pictet Asset Management Holding SA lowered its position in RTX Co. (NYSE:RTX) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 552,231 shares of the company’s stock after selling 15,335 shares during the quarter. Pictet Asset Management Holding SA’s holdings in RTX were worth $63,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RTX. 1620 Investment Advisors Inc. boosted its stake in RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC boosted its stake in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after buying an additional 80 shares during the period. McDonough Capital Management Inc grew its holdings in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. increased its position in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after acquiring an additional 81 shares during the period. Finally, Pointe Capital Management LLC raised its stake in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after acquiring an additional 81 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly 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 sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RTX shares. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. 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. Finally, 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. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Trading Down 1.3 %

NYSE:RTX opened at $131.68 on Friday. RTX Co. has a 52-week low of $97.03 and a 52-week high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $128.59 and a 200-day simple moving average of $123.03. The company has a market capitalization of $175.81 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

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 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, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

RTX 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.