Parvin Asset Management LLC Takes Position in RTX Co. (NYSE:RTX)

Parvin Asset Management LLC purchased a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,425 shares of the company’s stock, valued at approximately $1,669,000. RTX accounts for about 1.8% of Parvin Asset Management LLC’s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Guardian Capital LP grew its stake in RTX by 2.0% during the fourth quarter. Guardian Capital LP now owns 22,778 shares of the company’s stock valued at $2,636,000 after acquiring an additional 450 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in RTX by 91.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 16,973 shares of the company’s stock valued at $1,964,000 after acquiring an additional 8,112 shares in the last quarter. Navigoe LLC purchased a new position in RTX during the fourth quarter valued at approximately $128,000. Connors Investor Services Inc. grew its stake in RTX by 2.6% during the fourth quarter. Connors Investor Services Inc. now owns 140,781 shares of the company’s stock valued at $16,291,000 after acquiring an additional 3,520 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in RTX during the fourth quarter valued at approximately $103,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $125.82 on Wednesday. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The stock has a market cap of $168.08 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.11 and a beta of 0.58. The stock’s 50 day simple moving average is $128.32 and its two-hundred day simple moving average is $123.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, 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 paid a dividend of $0.63 per share. 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 2.00%. RTX’s dividend payout ratio is presently 73.90%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Susquehanna cut their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Buy” and a consensus target price of $161.06.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% 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.