FourThought Financial Partners LLC Makes New $900,000 Investment in RTX Co. (NYSE:RTX)

FourThought Financial Partners LLC bought a new position in shares of RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,777 shares of the company’s stock, valued at approximately $900,000.

A number of other hedge funds also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter valued at $29,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the 3rd quarter valued at $41,000. Modus Advisors LLC purchased a new stake in shares of RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX during the 4th quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

RTX Stock Performance

NYSE:RTX opened at $127.30 on Wednesday. The stock has a market cap of $169.58 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a fifty-two week low of $88.95 and a fifty-two week high of $132.43. The firm’s fifty day simple moving average is $121.84 and its 200-day simple moving average is $121.13. 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 quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

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.