OVERSEA CHINESE BANKING Corp Ltd Invests $240,000 in RTX Co. (NYSE:RTX)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of RTX Co. (NYSE:RTX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,072 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its position in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in RTX by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after acquiring an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp grew its position in RTX by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after acquiring an additional 549,814 shares during the last quarter. Finally, Amundi grew its position in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RTX. Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Susquehanna upped their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.40.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Down 0.7 %

Shares of NYSE:RTX opened at $134.37 on Friday. The business’s 50 day simple moving average is $126.80 and its two-hundred day simple moving average is $122.47. The firm has a market cap of $179.40 billion, a P/E ratio of 37.85, a PEG ratio of 2.11 and a beta of 0.78. 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 Co. has a 52-week low of $94.08 and a 52-week high of $135.74.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.88%. RTX’s dividend 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.