Parvin Asset Management LLC Acquires New Shares in RTX Co. (NYSE:RTX)

Parvin Asset Management LLC acquired a new position in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,425 shares of the company's stock, valued at approximately $1,669,000. RTX accounts for approximately 1.8% of Parvin Asset Management LLC's investment portfolio, making the stock its 5th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management lifted its position 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 worth $31,000 after purchasing an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of RTX during the fourth quarter valued at $39,000. Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the 4th quarter worth about $40,000. Institutional investors own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX stock traded up $2.89 during trading hours on Friday, hitting $130.30. 5,002,098 shares of the company's stock were exchanged, compared to its average volume of 5,480,325. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The firm has a market cap of $174.07 billion, a P/E ratio of 36.70, a P/E/G 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. The firm has a 50 day moving average of $128.48 and a two-hundred day moving average of $123.84.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend payout ratio is currently 73.90%.

Insider Buying and Selling at RTX

In other RTX news, 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 completion of the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research reports. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and lifted their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $161.06.

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.