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

Prasad Wealth Partners LLC purchased a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,693 shares of the company’s stock, valued at approximately $312,000.

Several other hedge funds have also recently modified their holdings of RTX. Geode Capital Management LLC lifted its holdings in RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its stake in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. FMR LLC boosted its position in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RTX by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after purchasing an additional 140,697 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in RTX by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after purchasing an additional 25,407 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $125.33 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $88.95 and a twelve month high of $132.43. The company’s 50 day moving average is $121.64 and its 200 day moving average is $121.05. The company has a market cap of $166.95 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RTX. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $142.00 to $147.00 in a research report on Monday. Finally, Bank of America upped their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.13% 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.