Picton Mahoney Asset Management Buys 11,511 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Picton Mahoney Asset Management increased its stake in RTX Corporation by 4,201.1%, acquiring an additional 11,511 shares, bringing its total holdings to 11,785 shares, valued at $1,561,000.
• RTX recently announced a quarterly dividend of $0.68 per share, translating to an annualized basis of $2.72 and a dividend yield of 1.72%.
• Multiple brokerages have elevated their price targets for RTX, with Citigroup raising its target from $148.00 to $182.00 and maintaining a "buy" rating.

Picton Mahoney Asset Management lifted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 4,201.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,785 shares of the company's stock after purchasing an additional 11,511 shares during the quarter. Picton Mahoney Asset Management's holdings in RTX were worth $1,561,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake 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 purchasing an additional 1,000,722 shares during the period. Northern Trust Corp raised its holdings in shares of RTX by 8.4% during the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after buying an additional 997,806 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Invesco Ltd. grew its position in RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after acquiring an additional 1,522,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in RTX by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,647,638 shares of the company's stock worth $884,958,000 after acquiring an additional 203,173 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,234 shares of company stock valued at $4,439,755 in the last three months. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup upped their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Finally, Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Stock Down 0.4%

Shares of RTX stock traded down $0.65 on Friday, hitting $156.92. The company had a trading volume of 4,418,299 shares, compared to its average volume of 5,398,623. The stock has a market capitalization of $210.04 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 2.92 and a beta of 0.64. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The stock has a 50 day moving average of $145.20 and a 200-day moving average of $133.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, sell-side analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

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.