Pine Valley Investments Ltd Liability Co Acquires 3,412 Shares of RTX Co. (NYSE:RTX)

Pine Valley Investments Ltd Liability Co boosted its holdings in shares of RTX Co. (NYSE:RTX) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,814 shares of the company’s stock after acquiring an additional 3,412 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in RTX were worth $2,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional grew its holdings in RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares in the last quarter. LRI Investments LLC grew its holdings in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares in the last quarter. Napa Wealth Management bought a new position in RTX during the 3rd quarter worth about $1,307,000. Czech National Bank grew its holdings in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Susquehanna increased their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

RTX Stock Performance

Shares of RTX stock opened at $127.30 on Wednesday. RTX Co. has a 52 week low of $88.95 and a 52 week high of $132.43. 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 firm has a market capitalization of $169.58 billion, a P/E ratio of 35.86, a PEG ratio of 2.11 and a beta of 0.82. The company has a 50 day moving average price of $121.84 and a 200 day moving average price of $121.13.

RTX (NYSE:RTX) last posted its quarterly earnings results 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%. Sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

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.