Ingalls & Snyder LLC Has $21.50 Million Stock Position in RTX Co. (NYSE:RTX)

Ingalls & Snyder LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,796 shares of the company’s stock after selling 2,908 shares during the period. RTX accounts for approximately 0.8% of Ingalls & Snyder LLC’s portfolio, making the stock its 27th biggest position. Ingalls & Snyder LLC’s holdings in RTX were worth $21,500,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Castle Wealth Management LLC raised its holdings in RTX by 5.0% during the fourth quarter. Castle Wealth Management LLC now owns 2,341 shares of the company’s stock valued at $271,000 after buying an additional 111 shares in the last quarter. Van ECK Associates Corp raised its holdings in RTX by 30.0% during the fourth quarter. Van ECK Associates Corp now owns 2,310,221 shares of the company’s stock valued at $267,339,000 after buying an additional 532,970 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in RTX by 6.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock valued at $65,278,000 after buying an additional 32,024 shares in the last quarter. Jmac Enterprises LLC raised its holdings in RTX by 6.2% during the fourth quarter. Jmac Enterprises LLC now owns 5,146 shares of the company’s stock valued at $595,000 after buying an additional 301 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in RTX during the fourth quarter valued at about $2,471,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RTX shares. UBS Group raised their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Down 1.8 %

NYSE RTX opened at $126.82 on Thursday. 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 stock’s 50 day moving average is $120.55 and its two-hundred day moving average is $120.53. The company has a market capitalization of $168.94 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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 analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred 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 directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

RTX Company 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.