iA Global Asset Management Inc. Buys 22,795 Shares of RTX Co. (NYSE:RTX)

iA Global Asset Management Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 104.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,535 shares of the company’s stock after acquiring an additional 22,795 shares during the quarter. iA Global Asset Management Inc.’s holdings in RTX were worth $5,154,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RTX. Fairway Wealth LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the last quarter. Modus Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX during the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Down 0.7 %

RTX stock opened at $134.37 on Friday. The business has a fifty day moving average of $126.80 and a two-hundred day moving average of $122.47. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $179.40 billion, a P/E ratio of 37.85, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a twelve month low of $94.08 and a twelve month high of $135.74.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RTX shares. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Morgan Stanley boosted their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

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.