Martin & Co. Inc. TN Sells 466 Shares of RTX Co. (NYSE:RTX)

Martin & Co. Inc. TN decreased its holdings in RTX Co. (NYSE:RTX) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 9,988 shares of the company’s stock after selling 466 shares during the quarter. Martin & Co. Inc. TN’s holdings in RTX were worth $1,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the 3rd quarter valued at $29,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter worth $41,000. Modus Advisors LLC bought a new stake in RTX during the 4th quarter worth $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter worth $40,000. Finally, Iron Horse Wealth Management LLC grew 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 worth $43,000 after acquiring an additional 279 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RTX shares. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. UBS Group lifted their target price on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday. Finally, 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. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Performance

Shares of RTX stock opened at $122.68 on Monday. RTX Co. has a one year low of $88.90 and a one year high of $132.43. The firm has a market capitalization of $163.42 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82. The business has a 50-day simple moving average of $120.79 and a 200 day simple moving average of $120.68. 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 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%. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.