Potentia Wealth Acquires New Shares in RTX Co. (NYSE:RTX)

Potentia Wealth acquired a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,430 shares of the company’s stock, valued at approximately $976,000.

Several other hedge funds also recently made changes to their positions in the business. Amundi boosted its position in shares of RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after acquiring an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC bought a new position in RTX in the 4th quarter valued at approximately $216,340,000. Vanguard Group Inc. increased 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 valued at $13,710,408,000 after buying an additional 1,252,448 shares during the period. Finally, Proficio Capital Partners LLC increased its position 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 worth $120,724,000 after buying an additional 1,037,792 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 1.8 %

Shares of 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 current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $95.27 and a twelve month high of $135.74. The firm has a 50-day moving average price of $127.48 and a 200 day moving average price of $122.66.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.87%. RTX’s payout ratio is 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on 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 sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX 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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. 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. Wells Fargo & Company upped their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna upped their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley upped their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

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.