Mission Wealth Management LP Boosts Stake in RTX Co. (NYSE:RTX)

Mission Wealth Management LP boosted its holdings in shares of RTX Co. (NYSE:RTX) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,784 shares of the company’s stock after acquiring an additional 1,353 shares during the period. Mission Wealth Management LP’s holdings in RTX were worth $2,752,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fusion Capital LLC grew its position in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. boosted its stake in RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after buying an additional 81 shares during the last quarter. Pointe Capital Management LLC grew its holdings in RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after buying an additional 81 shares in the last quarter. Avestar Capital LLC increased its stake in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares during the last quarter. Finally, Arbor Wealth Advisors LLC raised its holdings in shares of RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RTX. Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock 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 company an “equal weight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Performance

NYSE:RTX opened at $133.68 on Tuesday. The company has a market cap of $178.08 billion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $89.14 and a 52 week high of $135.36. The company has a fifty day simple moving average of $123.06 and a two-hundred day simple moving average of $121.52.

RTX (NYSE:RTX) last issued its quarterly 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 net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 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.