Waterfront Wealth Inc. Has $1.19 Million Stake in RTX Co. (NYSE:RTX)

Waterfront Wealth Inc. grew its stake in RTX Co. (NYSE:RTX) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,252 shares of the company’s stock after purchasing an additional 240 shares during the period. Waterfront Wealth Inc.’s holdings in RTX were worth $1,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX during the 3rd quarter valued at about $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the 3rd quarter valued at about $41,000. Modus Advisors LLC acquired a new stake in shares of RTX during the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the 4th quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on RTX shares. 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 report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. UBS Group boosted their target price on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Susquehanna boosted 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. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Down 0.1 %

Shares of NYSE RTX opened at $125.25 on Friday. The stock has a market cap of $166.85 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.12 and a beta of 0.82. The firm has a 50 day moving average price of $121.38 and a 200 day moving average price of $120.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend 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%.

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.