Fisher Asset Management LLC Purchases 576,214 Shares of RTX Co. (NYSE:RTX)

Fisher Asset Management LLC grew its position in RTX Co. (NYSE:RTX) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,047,685 shares of the company’s stock after acquiring an additional 576,214 shares during the period. Fisher Asset Management LLC owned 1.43% of RTX worth $2,204,198,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the third quarter valued at approximately $41,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

Shares of RTX stock opened at $133.02 on Friday. RTX Co. has a 12-month low of $88.95 and a 12-month high of $133.09. The firm has a market capitalization of $177.19 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. 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 fifty day moving average of $122.72 and a 200-day moving average of $121.35.

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 the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders sold 36,334 shares of company stock valued at $4,639,194 in the last quarter. Company insiders own 0.13% of the company’s stock.

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.