Iron Gate Global Advisors LLC Boosts Stake in RTX Co. (NYSE:RTX)

Iron Gate Global Advisors LLC raised its position in shares of RTX Co. (NYSE:RTX - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,224 shares of the company's stock after purchasing an additional 12,213 shares during the quarter. RTX accounts for about 2.6% of Iron Gate Global Advisors LLC's investment portfolio, making the stock its 12th biggest holding. Iron Gate Global Advisors LLC's holdings in RTX were worth $18,757,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and boosted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. 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 company's stock. According to data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and a consensus price target of $165.27.

RTX Price Performance

NYSE RTX traded down $0.37 on Friday, reaching $128.89. The company had a trading volume of 5,208,962 shares, compared to its average volume of 5,464,237. The firm's 50 day moving average price is $128.59 and its 200 day moving average price is $123.83. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The stock has a market capitalization of $172.07 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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%. As a group, equities analysts predict 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value 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. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company's stock.

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.