Steward Partners Investment Advisory LLC Purchases 11,849 Shares of RTX Co. (NYSE:RTX)

Steward Partners Investment Advisory LLC lifted its position in RTX Co. (NYSE:RTX) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,418 shares of the company’s stock after buying an additional 11,849 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in RTX were worth $20,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the third quarter valued at $29,000. Western Pacific Wealth Management LP bought a new position in RTX during the third quarter worth $41,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the fourth quarter worth $40,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Up 0.5 %

RTX stock opened at $133.68 on Tuesday. The company has a market cap of $178.08 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business has a 50-day simple moving average of $123.06 and a 200 day simple moving average of $121.52. RTX Co. has a 52 week low of $89.14 and a 52 week high of $135.36. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. Sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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 paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insiders Place Their Bets

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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is currently owned by corporate insiders.

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.