IFP Advisors Inc Increases Position in RTX Co. (NYSE:RTX)

IFP Advisors Inc grew its stake in RTX Co. (NYSE:RTX) by 284.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,023 shares of the company’s stock after acquiring an additional 34,789 shares during the quarter. IFP Advisors Inc’s holdings in RTX were worth $5,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. CX Institutional boosted its position in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. LRI Investments LLC boosted its position in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Napa Wealth Management acquired a new stake in shares of RTX in the 3rd quarter worth $1,307,000. Czech National Bank boosted its position in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp boosted its position in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock opened at $123.23 on Monday. The stock has a market cap of $164.16 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business has a 50-day simple moving average of $121.49 and a 200-day simple moving average of $120.98. 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 $88.90 and a 52-week high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RTX shares. UBS Group raised their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.07.

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.