Advisor OS LLC boosted its holdings in RTX Co. (NYSE:RTX – Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,263 shares of the company’s stock after buying an additional 289 shares during the quarter. Advisor OS LLC’s holdings in RTX were worth $1,419,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Concord Wealth Partners increased its holdings in RTX by 13.3% in the third quarter. Concord Wealth Partners now owns 757 shares of the company’s stock valued at $92,000 after purchasing an additional 89 shares during the period. Orrstown Financial Services Inc. increased its stake in shares of RTX by 129.4% in the third quarter. Orrstown Financial Services Inc. now owns 10,965 shares of the company’s stock valued at $1,329,000 after buying an additional 6,185 shares during the period. Pallas Capital Advisors LLC raised its position in shares of RTX by 30.5% during the third quarter. Pallas Capital Advisors LLC now owns 5,104 shares of the company’s stock worth $639,000 after acquiring an additional 1,192 shares during the last quarter. abrdn plc raised its position in shares of RTX by 527.6% during the third quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after acquiring an additional 509,261 shares during the last quarter. Finally, Traynor Capital Management Inc. acquired a new position in shares of RTX in the third quarter worth approximately $245,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at RTX
In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.
RTX Stock Up 1.5 %
RTX (NYSE:RTX – Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal 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 issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. RTX’s dividend payout ratio is presently 70.99%.
Analyst Ratings Changes
Several research firms have issued reports on RTX. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America lifted 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. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley boosted their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.
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.
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