Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 205,165 RTX Co. (NYSE:RTX)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of RTX Co. (NYSE:RTX) during the fourth quarter, Holdings Channel.com reports. The firm purchased 205,165 shares of the company’s stock, valued at approximately $23,742,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amundi grew its holdings in shares of RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings 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 worth $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC purchased a new stake in RTX in the fourth quarter worth $216,340,000. Proficio Capital Partners LLC lifted its stake in RTX by 19,052.5% in the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after acquiring an additional 1,037,792 shares during the period. Finally, Jennison Associates LLC lifted its stake in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research analyst reports. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada raised their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction 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. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % 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. 0.13% of the stock is owned by corporate insiders.

RTX Price Performance

RTX opened at $129.14 on Friday. The stock has a 50-day moving average price of $124.78 and a 200-day moving average price of $122.01. 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 $172.03 billion, a PE ratio of 36.38, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 1 year low of $91.05 and a 1 year high of $135.36.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.95%. RTX’s payout ratio is 70.99%.

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.