Latitude Advisors LLC Purchases New Stake in RTX Co. (NYSE:RTX)

Latitude Advisors LLC bought a new stake in shares of RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,954 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares during the period. FMR LLC increased its holdings in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of RTX by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after buying an additional 140,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of RTX by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after acquiring an additional 25,407 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.1 %

NYSE RTX opened at $128.11 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $120.18 and a 200 day simple moving average of $120.38. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The firm has a market capitalization of $170.65 billion, a P/E ratio of 36.09, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. On average, analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given 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 1.97%. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

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.