Leo Wealth LLC Purchases 7,149 Shares of RTX Co. (NYSE:RTX)

Leo Wealth LLC lifted its position in RTX Co. (NYSE:RTX) by 147.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,997 shares of the company’s stock after buying an additional 7,149 shares during the period. Leo Wealth LLC’s holdings in RTX were worth $1,388,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brookstone Capital Management increased its stake in RTX by 1.6% during the 3rd quarter. Brookstone Capital Management now owns 40,706 shares of the company’s stock worth $4,932,000 after purchasing an additional 640 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of RTX in the third quarter valued at approximately $350,000. CWM LLC increased its position in shares of RTX by 2.5% during the third quarter. CWM LLC now owns 128,288 shares of the company’s stock worth $15,543,000 after acquiring an additional 3,080 shares in the last quarter. Abner Herrman & Brock LLC lifted its position in RTX by 17.4% in the 3rd quarter. Abner Herrman & Brock LLC now owns 73,855 shares of the company’s stock valued at $8,948,000 after acquiring an additional 10,937 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in RTX by 23.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 708 shares of the company’s stock worth $86,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RTX. Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Trading Down 0.3 %

Shares of NYSE:RTX opened at $128.80 on Friday. The stock has a market cap of $171.43 billion, a PE ratio of 36.28, a P/E/G ratio of 2.17 and a beta of 0.82. 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 Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The business has a 50 day moving average of $119.87 and a 200-day moving average of $119.90.

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, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts forecast that RTX Co. will post 6.12 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given 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 dividend yield of 1.96%. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

In related 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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.