Artisan Partners Limited Partnership Takes $5.88 Million Position in RTX Co. (NYSE:RTX)

Artisan Partners Limited Partnership acquired a new stake in RTX Co. (NYSE:RTX) in the fourth quarter, Holdings Channel.com reports. The firm acquired 50,774 shares of the company’s stock, valued at approximately $5,876,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. CX Institutional increased its holdings in shares of RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the period. National Pension Service increased its stake in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares during the last quarter. LRI Investments LLC raised its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares in the last quarter. Czech National Bank boosted its position in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp grew its holdings in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $131.68 on Friday. The company has a 50-day simple moving average of $128.59 and a two-hundred day simple moving average of $123.01. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $175.81 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a one year low of $97.03 and a one year high of $136.17.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. RTX’s payout ratio is currently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. The trade was a 39.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RTX shares. Susquehanna lifted their target price 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. Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $166.40.

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.