RTX Co. (NYSE:RTX) is Phraction Management LLC’s 9th Largest Position

Phraction Management LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,493 shares of the company’s stock after selling 652 shares during the period. RTX accounts for 4.1% of Phraction Management LLC’s portfolio, making the stock its 9th largest holding. Phraction Management LLC’s holdings in RTX were worth $11,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. bought a new position in RTX in the third quarter worth $29,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the third quarter valued at $41,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the fourth quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC increased its position in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

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 value of $1,813,226.13. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Price Performance

Shares of NYSE:RTX opened at $126.82 on Thursday. The company has a market capitalization of $168.94 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. 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 company’s 50-day moving average is $120.55 and its 200 day moving average is $120.53.

RTX (NYSE:RTX) last announced 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%. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared 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. This represents a $2.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.