Sharpepoint LLC Makes New $1.03 Million Investment in RTX Co. (NYSE:RTX)

Sharpepoint LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,863 shares of the company’s stock, valued at approximately $1,026,000.

Several other institutional investors have also modified their holdings of RTX. Vanguard Group Inc. grew its stake in shares of RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its position in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after buying an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC increased its stake in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the period. Franklin Resources Inc. raised its position in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Finally, Norges Bank bought a new position in shares of RTX in the fourth quarter valued at approximately $1,745,644,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $128.89 on Friday. 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 $172.07 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a 50 day simple moving average of $128.59 and a 200-day simple moving average of $123.83. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX) last released its 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%. Equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Susquehanna lifted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.27.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last three months. 0.15% of the stock is owned by insiders.

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.