Parvin Asset Management LLC Invests $1.67 Million in RTX Co. (NYSE:RTX)

Parvin Asset Management LLC bought a new position in RTX Co. (NYSE:RTX) in the 4th quarter, Holdings Channel.com reports. The fund bought 14,425 shares of the company’s stock, valued at approximately $1,669,000. RTX makes up 1.8% of Parvin Asset Management LLC’s holdings, making the stock its 5th biggest position.

Several other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. lifted its stake in shares of RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC lifted its stake in shares of RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc lifted its stake in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. lifted its stake in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares during the period. Finally, Pointe Capital Management LLC lifted its stake in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business’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 of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday. Finally, DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $161.06.

RTX Trading Up 0.8 %

Shares of RTX stock opened at $125.82 on Wednesday. The company has a 50-day moving average of $128.32 and a two-hundred day moving average of $123.77. 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 $99.07 and a 1-year high of $136.17. The firm has a market cap of $168.08 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s payout ratio is currently 73.90%.

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.