Tiemann Investment Advisors LLC Acquires 90 Shares of RTX Co. (NYSE:RTX)

Tiemann Investment Advisors LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,789 shares of the company’s stock after purchasing an additional 90 shares during the period. Tiemann Investment Advisors LLC’s holdings in RTX were worth $901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the third quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in RTX in the fourth quarter worth about $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX during the 4th quarter worth approximately $40,000. Iron Horse Wealth Management LLC raised its position in shares of RTX by 296.8% in 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 in the last quarter. Finally, BOK Financial Private Wealth Inc. lifted its stake in shares of RTX by 43.3% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 414 shares of the company’s stock valued at $48,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RTX. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Morgan Stanley increased their price target 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. Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Up 0.3 %

RTX stock opened at $128.63 on Monday. 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 Co. has a 1-year low of $89.44 and a 1-year high of $135.36. The stock has a market capitalization of $171.35 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.11 and a beta of 0.78. The business has a fifty day moving average price of $124.02 and a 200-day moving average price of $121.83.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. Equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

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.