RTX Co. (NYSE:RTX) Shares Sold by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. cut its stake in RTX Co. (NYSE:RTX) by 0.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 49,234 shares of the company’s stock after selling 146 shares during the period. RTX accounts for approximately 2.1% of Pegasus Asset Management Inc.’s portfolio, making the stock its 16th largest position. Pegasus Asset Management Inc.’s holdings in RTX were worth $5,697,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. New Century Financial Group LLC acquired a new position in RTX in the third quarter valued at $211,000. Allspring Global Investments Holdings LLC grew its holdings in shares of RTX by 21.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 530,729 shares of the company’s stock worth $64,303,000 after purchasing an additional 95,096 shares during the period. Raleigh Capital Management Inc. increased its position in RTX by 52.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the company’s stock worth $122,000 after purchasing an additional 345 shares in the last quarter. Waterway Wealth Management LLC purchased a new position in RTX in the third quarter valued at approximately $212,000. Finally, Ledyard National Bank lifted its position in RTX by 1.7% during the third quarter. Ledyard National Bank now owns 16,197 shares of the company’s stock valued at $1,962,000 after buying an additional 278 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RTX shares. Susquehanna raised their target price 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. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Up 0.9 %

NYSE:RTX opened at $123.52 on Wednesday. The stock has a 50-day simple moving average of $121.03 and a 200 day simple moving average of $120.77. RTX Co. has a one year low of $88.90 and a one year high of $132.43. The company has a market capitalization of $164.54 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX 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 sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.