Cidel Asset Management Inc. Grows Stock Holdings in RTX Co. (NYSE:RTX)

Cidel Asset Management Inc. increased its holdings in RTX Co. (NYSE:RTX) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,974 shares of the company’s stock after purchasing an additional 312 shares during the quarter. Cidel Asset Management Inc.’s holdings in RTX were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter worth $29,000. Modus Advisors LLC purchased a new position in shares of RTX during the fourth quarter valued at about $39,000. Western Pacific Wealth Management LP bought a new position in RTX in the third quarter worth about $41,000. Iron Horse Wealth Management LLC boosted its position in shares of 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 purchasing an additional 279 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased 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.

Analyst Ratings Changes

Several research firms have recently commented on RTX. JPMorgan Chase & Co. raised 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. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Morgan Stanley upped their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.07.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

RTX Trading Down 0.6 %

RTX opened at $128.07 on Friday. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $119.99 and a 200 day moving average of $120.07. The firm has a market cap of $170.60 billion, a P/E ratio of 36.08, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.