TCW Group Inc. Grows Position in RTX Co. (NYSE:RTX)

TCW Group Inc. lifted its stake in RTX Co. (NYSE:RTX) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,626 shares of the company’s stock after buying an additional 465 shares during the quarter. TCW Group Inc.’s holdings in RTX were worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Jennison Associates LLC raised its stake in RTX by 190.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares in the last quarter. Fisher Asset Management LLC raised its stake in RTX by 4.8% during 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 in the last quarter. Janus Henderson Group PLC raised its stake in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in RTX by 30.0% during the fourth quarter. Van ECK Associates Corp now owns 2,310,221 shares of the company’s stock valued at $267,339,000 after purchasing an additional 532,970 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $142.00 to $147.00 in a research report on Monday. Bank of America boosted their price objective 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. Wells Fargo & Company boosted their price objective 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, Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Up 1.7 %

Shares of RTX stock opened at $125.33 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $88.95 and a 1 year high of $132.43. The firm’s 50-day moving average is $121.64 and its two-hundred day moving average is $121.05. The stock has a market cap of $166.95 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its 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 net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the 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 completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

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.