Peregrine Asset Advisers Inc. Boosts Stake in RTX Co. (NYSE:RTX)

Peregrine Asset Advisers Inc. lifted its position in shares of RTX Co. (NYSE:RTX) by 23.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,156 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in RTX were worth $481,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in RTX in the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the fourth quarter worth about $40,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the third quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC grew 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 buying an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.07.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $123.23 on Friday. The stock has a market capitalization of $164.16 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business’s fifty day moving average price is $121.49 and its 200 day moving average price is $120.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s payout ratio is currently 70.99%.

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.