Summit Asset Management LLC Increases Holdings in RTX Co. (NYSE:RTX)

Summit Asset Management LLC lifted its position in RTX Co. (NYSE:RTX) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,854 shares of the company’s stock after purchasing an additional 800 shares during the period. Summit Asset Management LLC’s holdings in RTX were worth $1,256,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RTX. Dakota Wealth Management raised its stake in RTX by 1.3% in the third quarter. Dakota Wealth Management now owns 32,410 shares of the company’s stock worth $3,927,000 after buying an additional 430 shares in the last quarter. West Michigan Advisors LLC bought a new position in RTX in the third quarter worth approximately $211,000. Silver Oak Securities Incorporated raised its stake in RTX by 6.7% in the third quarter. Silver Oak Securities Incorporated now owns 12,209 shares of the company’s stock worth $1,470,000 after buying an additional 764 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in RTX by 6.6% in the third quarter. Mediolanum International Funds Ltd now owns 29,400 shares of the company’s stock worth $3,534,000 after buying an additional 1,831 shares in the last quarter. Finally, Shayne & Jacobs LLC raised its stake in RTX by 0.9% in the third quarter. Shayne & Jacobs LLC now owns 13,812 shares of the company’s stock worth $1,673,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RTX shares. Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Barclays upped their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Trading Down 1.5 %

RTX stock opened at $123.23 on Friday. The company’s 50-day simple moving average is $121.49 and its 200-day simple moving average is $120.93. 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 52-week low of $88.90 and a 52-week high of $132.43. The firm has a market cap of $164.16 billion, a P/E ratio of 34.71, a PEG ratio of 2.11 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, topping 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, equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared 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 is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.