Iowa State Bank Boosts Stake in RTX Co. (NYSE:RTX)

Iowa State Bank lifted its holdings in shares of RTX Co. (NYSE:RTX) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,413 shares of the company’s stock after purchasing an additional 109 shares during the period. Iowa State Bank’s holdings in RTX were worth $4,098,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter valued at about $29,000. Western Pacific Wealth Management LP bought a new position in RTX in the third quarter valued at $41,000. Modus Advisors LLC purchased a new position in shares of RTX during the 4th quarter valued at about $39,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX during the second quarter worth approximately $41,000. Finally, ORG Wealth Partners LLC bought a new stake in RTX in the third quarter worth $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX traded down $1.21 during trading on Monday, reaching $114.66. 1,917,785 shares of the company’s stock traded hands, compared to its average volume of 2,644,092. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The company has a 50-day simple moving average of $118.87 and a 200-day simple moving average of $116.59. The firm has a market cap of $152.61 billion, a PE ratio of 32.76, a P/E/G ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. As a group, analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.20%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. 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. 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 note on Thursday. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.67.

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.