Resona Asset Management Co. Ltd. Purchases Shares of 391,933 RTX Co. (NYSE:RTX)

Resona Asset Management Co. Ltd. acquired a new position in RTX Co. (NYSE:RTX) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 391,933 shares of the company’s stock, valued at approximately $45,408,000.

Several other hedge funds have also recently made changes to their positions in RTX. Fairway Wealth LLC bought a new stake in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the 4th 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 period. 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 position in shares of RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in RTX in the fourth quarter worth about $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of NYSE RTX opened at $117.43 on Friday. The company has a 50 day moving average of $129.05 and a 200 day moving average of $123.35. 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 Co. has a twelve month low of $99.07 and a twelve month high of $136.17. The firm has a market cap of $156.78 billion, a P/E ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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, research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid 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 dividend yield of 2.15%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sold 79,831 shares of company stock valued at $10,309,302 over the last three months. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RTX shares. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX 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.