Adero Partners LLC Buys 300 Shares of RTX Co. (NYSE:RTX)

Adero Partners LLC grew its position in RTX Co. (NYSE:RTX) by 3.7% in the fourth quarter, Holdings Channel reports. The fund owned 8,401 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Adero Partners LLC’s holdings in RTX were worth $972,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CX Institutional raised its position in RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after purchasing an additional 11,706 shares during the last quarter. LRI Investments LLC raised its holdings in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the last quarter. Napa Wealth Management acquired a new stake in RTX during the 3rd quarter worth approximately $1,307,000. Czech National Bank grew its holdings in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new position in RTX in the 4th quarter valued at approximately $8,387,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada increased their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

RTX stock opened at $129.12 on Thursday. 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 company’s 50-day moving average is $119.70 and its 200-day moving average is $119.83. The stock has a market capitalization of $171.86 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43.

RTX (NYSE:RTX) last announced its quarterly 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 return on equity of 12.45% and a net margin of 5.91%. Equities research analysts expect that RTX Co. will post 6.12 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.95%. RTX’s payout ratio 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.