bLong Financial LLC Invests $615,000 in RTX Co. (NYSE:RTX)

bLong Financial LLC acquired a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,311 shares of the company’s stock, valued at approximately $615,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CX Institutional boosted its position in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. LRI Investments LLC boosted its position in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Napa Wealth Management bought a new position in shares of RTX during the 3rd quarter worth about $1,307,000. Czech National Bank raised its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp raised its holdings in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 2.5 %

RTX stock opened at $122.68 on Friday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The firm has a 50 day moving average price of $120.79 and a 200-day moving average price of $120.65. The company has a market capitalization of $163.42 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current 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. This represents a $2.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RTX has been the topic of a number of analyst reports. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.07.

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.