Artisan Partners Limited Partnership Buys New Position in RTX Co. (NYSE:RTX)

Artisan Partners Limited Partnership purchased a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 50,774 shares of the company’s stock, valued at approximately $5,876,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management boosted its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in RTX during the fourth quarter worth approximately $39,000. Modus Advisors LLC bought a new stake in RTX in the fourth quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in RTX in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % 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, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction dated 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 sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. 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. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $131.68 on Friday. The stock has a 50 day moving average of $128.59 and a 200 day moving average of $123.01. The company has a market capitalization of $175.81 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 12 month low of $97.03 and a 12 month high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 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%. As a group, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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