Patten Group Inc. Has $4.38 Million Stock Holdings in RTX Co. (NYSE:RTX)

Patten Group Inc. boosted its position in RTX Co. (NYSE:RTX) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,863 shares of the company’s stock after purchasing an additional 443 shares during the period. RTX comprises 1.0% of Patten Group Inc.’s holdings, making the stock its 16th largest position. Patten Group Inc.’s holdings in RTX were worth $4,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. Assenagon Asset Management S.A. raised its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares during the period. Capital Wealth Planning LLC bought a new position in RTX in the 4th quarter valued at about $216,340,000. Proficio Capital Partners LLC lifted its position in 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 acquiring an additional 1,037,792 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of RTX by 190.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna increased their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Buying and Selling at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred 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. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $133.68 on Tuesday. The firm has a market capitalization of $178.08 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.11 and a beta of 0.82. 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’s 50-day moving average price is $123.06 and its 200-day moving average price is $121.52. RTX Co. has a 12 month low of $89.14 and a 12 month high of $135.36.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

RTX 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.