Confluence Wealth Services Inc. Acquires 315 Shares of RTX Co. (NYSE:RTX)

Confluence Wealth Services Inc. boosted its stake in RTX Co. (NYSE:RTX) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,140 shares of the company’s stock after buying an additional 315 shares during the period. Confluence Wealth Services Inc.’s holdings in RTX were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Geode Capital Management LLC grew its holdings in RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its stake in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares during the period. FMR LLC boosted its holdings in shares of RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after buying an additional 140,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of RTX by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock valued at $355,927,000 after acquiring an additional 38,930 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $129.12 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $171.86 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The stock’s 50-day simple moving average is $119.70 and its 200 day simple moving average is $119.83.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts forecast that RTX Co. will post 6.12 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. RTX’s dividend payout ratio is presently 70.99%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group lifted their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

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.