Covalis Capital LLP Makes New Investment in RTX Co. (NYSE:RTX)

Covalis Capital LLP acquired a new stake in shares of RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,587 shares of the company's stock, valued at approximately $1,457,000.

A number of other large investors have also recently bought and sold shares of the business. Fairway Wealth LLC bought a new position in RTX in the fourth quarter worth $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Millstone Evans Group LLC bought a new stake in RTX in the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the fourth quarter valued at approximately $40,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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 $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last quarter. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE:RTX traded up $6.46 during midday trading on Wednesday, hitting $120.21. The company had a trading volume of 6,601,373 shares, compared to its average volume of 5,510,938. The stock's fifty day moving average price is $128.33 and its 200-day moving average price is $123.77. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. 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 company has a market capitalization of $160.49 billion, a PE ratio of 33.86, a P/E/G ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. 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 year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 dividend on an annualized basis and a dividend yield of 2.10%. RTX's dividend payout ratio is presently 70.99%.

Analysts Set New Price Targets

A number of research firms recently commented on RTX. UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and raised their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday. Finally, Bank of America boosted 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. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $163.53.

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.