Newbridge Financial Services Group Inc. Makes New Investment in RTX Co. (NYSE:RTX)

Newbridge Financial Services Group Inc. bought a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,134 shares of the company’s stock, valued at approximately $363,000.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Jennison Associates LLC lifted its position in RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after acquiring an additional 993,273 shares in the last quarter. Fisher Asset Management LLC increased its holdings in 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 in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RTX shares. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Performance

Shares of RTX opened at $128.07 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $170.60 billion, a PE ratio of 36.08, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The stock’s fifty day moving average price is $119.99 and its two-hundred day moving average price is $120.28.

RTX (NYSE:RTX) last released its quarterly earnings data 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, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s payout ratio is 70.99%.

RTX 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.