Horizon Investments LLC Boosts Stake in RTX Co. (NYSE:RTX)

Horizon Investments LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,611 shares of the company’s stock after buying an additional 1,001 shares during the period. Horizon Investments LLC’s holdings in RTX were worth $5,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter valued at $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter valued at about $40,000. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RTX. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Performance

Shares of RTX opened at $131.86 on Tuesday. RTX Co. has a 12 month low of $92.35 and a 12 month high of $135.36. The stock has a fifty day moving average price of $125.69 and a 200-day moving average price of $122.23. 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 firm has a market cap of $176.04 billion, a PE ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78.

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

RTX Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. RTX’s payout ratio is currently 70.99%.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 over the last ninety days. 0.13% of the stock is currently owned by insiders.

RTX 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.