Global Wealth Management Investment Advisory Inc. Has $2.81 Million Stock Holdings in RTX Co. (NYSE:RTX)

Global Wealth Management Investment Advisory Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,263 shares of the company’s stock after acquiring an additional 1,751 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in RTX were worth $2,808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX during the 3rd quarter worth $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX during the third quarter worth $41,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the fourth quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC lifted its position in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.6 %

Shares of NYSE RTX opened at $128.07 on Monday. The business’s fifty day moving average price is $119.99 and its 200-day moving average price is $120.28. RTX Co. has a one year low of $88.90 and a one year high of $132.43. The stock has a market capitalization of $170.60 billion, a PE ratio of 36.08, a P/E/G ratio of 2.17 and a beta of 0.82. 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 (NYSE:RTX) last issued its quarterly earnings data 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 return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

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 issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were 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 approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RTX. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

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.