Morris Financial Concepts Inc. Buys 400 Shares of RTX Co. (NYSE:RTX)

Morris Financial Concepts Inc. raised its stake in shares of RTX Co. (NYSE:RTX) by 23.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,080 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Morris Financial Concepts Inc.’s holdings in RTX were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avestar Capital LLC grew its holdings in RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC grew its stake in RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after buying an additional 85 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in RTX by 0.7% during the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after buying an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after buying an additional 86 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its holdings in RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.8 %

Shares of RTX stock opened at $126.82 on Thursday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The stock has a market cap of $168.94 billion, a P/E ratio of 35.72, a P/E/G ratio of 2.17 and a beta of 0.82. The stock has a 50 day moving average of $120.55 and a 200 day moving average of $120.53. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 dividend yield of 1.99%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent analyst reports. Susquehanna upped their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the 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 transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

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.