Legacy Capital Group California Inc. Buys 7,910 Shares of RTX Co. (NYSE:RTX)

Legacy Capital Group California Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 103.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,593 shares of the company’s stock after purchasing an additional 7,910 shares during the quarter. Legacy Capital Group California Inc.’s holdings in RTX were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of RTX during the 3rd quarter valued at $240,000. MFA Wealth Advisors LLC raised its stake in RTX by 29.8% in the third quarter. MFA Wealth Advisors LLC now owns 605 shares of the company’s stock valued at $73,000 after buying an additional 139 shares during the last quarter. McAdam LLC raised its stake in RTX by 24.5% in the third quarter. McAdam LLC now owns 4,511 shares of the company’s stock valued at $547,000 after buying an additional 889 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in shares of RTX by 3.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 7,672 shares of the company’s stock worth $930,000 after acquiring an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.1 %

Shares of NYSE:RTX opened at $125.25 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 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 $121.38 and a two-hundred day moving average of $120.83. The company has a market capitalization of $166.85 billion, a PE ratio of 35.28, a PEG ratio of 2.12 and a beta of 0.82.

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%. As a group, analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is 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.