Essex Financial Services Inc. Acquires 830 Shares of RTX Co. (NYSE:RTX)

Essex Financial Services Inc. increased its holdings in shares of RTX Co. (NYSE:RTX) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,578 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Essex Financial Services Inc.’s holdings in RTX were worth $8,862,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in RTX during the 4th quarter worth $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in RTX in the 4th quarter valued at $40,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the 3rd quarter worth $41,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of RTX by 296.8% in 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. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX 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 transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RTX shares. JPMorgan Chase & Co. upped 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. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

Shares of RTX stock opened at $128.11 on Tuesday. The firm has a market capitalization of $170.65 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 2.17 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $120.18 and its 200-day moving average price is $120.38. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43.

RTX (NYSE:RTX) last posted its earnings results 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 net margin of 5.91% and a return on equity of 12.45%. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

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