Benedict Financial Advisors Inc. Has $8.78 Million Stock Position in RTX Co. (NYSE:RTX)

Benedict Financial Advisors Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,854 shares of the company’s stock after selling 933 shares during the period. RTX makes up 2.1% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 7th largest holding. Benedict Financial Advisors Inc.’s holdings in RTX were worth $8,778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new stake in shares of RTX in the 4th quarter worth about $39,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the third quarter valued at approximately $41,000. Iron Horse Wealth Management LLC raised its stake in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in RTX during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Morgan Stanley lifted their price target 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. Finally, Susquehanna upped their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Down 0.6 %

Shares of RTX opened at $128.07 on Friday. The company has a market capitalization of $170.60 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The business’s 50 day moving average is $119.99 and its 200 day moving average is $120.17.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 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%. Research analysts expect that RTX Co. will post 6.11 earnings per share 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 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 yield of 1.97%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated 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 transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.