Metis Global Partners LLC Increases Position in RTX Co. (NYSE:RTX)

Metis Global Partners LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,512 shares of the company’s stock after acquiring an additional 2,772 shares during the quarter. Metis Global Partners LLC’s holdings in RTX were worth $6,655,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC increased its holdings in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC increased its holdings in RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after buying an additional 549,814 shares during the last quarter. FMR LLC increased its holdings in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after buying an additional 490,109 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 buying an additional 140,697 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Bank of America boosted 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. UBS Group raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Up 1.9 %

RTX stock opened at $133.02 on Friday. The stock has a market cap of $177.19 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.11 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $122.72 and its two-hundred day moving average price is $121.35. RTX Co. has a 52 week low of $88.95 and a 52 week high of $133.09.

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

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred 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 in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,334 shares of company stock valued at $4,639,194 in the last quarter. 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.