Tandem Investment Partners LLC Makes New Investment in RTX Co. (NYSE:RTX)

Tandem Investment Partners LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,466 shares of the company’s stock, valued at approximately $285,000.

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

Insider Activity

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on 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 of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Price Performance

Shares of NYSE:RTX opened at $117.24 on Tuesday. The company’s fifty day moving average is $128.91 and its two-hundred day moving average is $123.41. The company has a market cap of $156.53 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 12-month low of $99.07 and a 12-month 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.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. RTX’s payout ratio is 70.99%.

About RTX

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.