Twin Capital Management Inc. Grows Stake in RTX Co. (NYSE:RTX)

Twin Capital Management Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 184.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,872 shares of the company’s stock after acquiring an additional 18,090 shares during the quarter. Twin Capital Management Inc.’s holdings in RTX were worth $3,225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in shares of RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of RTX during the 4th quarter worth about $39,000. Millstone Evans Group LLC bought a new position in RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter worth about $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX stock opened at $117.43 on Monday. The business has a 50 day simple moving average of $129.05 and a two-hundred day simple moving average of $123.42. 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 stock has a market capitalization of $156.78 billion, a P/E ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17.

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

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RTX. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Bank of America upped their price target 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. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. 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 stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

About RTX

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.