17,083 Shares in RTX Co. (NYSE:RTX) Bought by Providence First Trust Co

Providence First Trust Co purchased a new stake in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,083 shares of the company’s stock, valued at approximately $1,977,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new position in shares of RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX during the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the third quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RTX shares. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $142.00 to $147.00 in a report on Monday, February 24th. Five investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,334 shares of company stock worth $4,639,194. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $133.02 on Friday. The stock has a market capitalization of $177.19 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.11 and a beta of 0.82. RTX Co. has a 1-year low of $88.95 and a 1-year high of $133.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s fifty day moving average price is $122.72 and its 200-day moving average price is $121.35.

RTX (NYSE:RTX) last posted its earnings results 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%. On average, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 annualized dividend and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.