Burling Wealth Partners LLC Takes $2.93 Million Position in RTX Co. (NYSE:RTX)

Burling Wealth Partners LLC purchased a new stake in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,282 shares of the company's stock, valued at approximately $2,926,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Morse Asset Management Inc acquired a new position in shares of RTX in the third quarter valued at approximately $321,000. Tudor Financial Inc. bought a new position in shares of RTX in the third quarter valued at $797,000. World Investment Advisors LLC boosted its stake in RTX by 37.1% during the 3rd quarter. World Investment Advisors LLC now owns 40,809 shares of the company's stock valued at $4,944,000 after purchasing an additional 11,033 shares during the last quarter. Sfmg LLC raised its position in RTX by 4.7% in the 3rd quarter. Sfmg LLC now owns 73,978 shares of the company's stock valued at $8,963,000 after buying an additional 3,306 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of RTX by 365.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company's stock worth $13,962,000 after buying an additional 90,499 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and raised their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $163.53.

RTX Price Performance

RTX stock opened at $120.50 on Thursday. The firm's fifty day moving average is $128.29 and its 200 day moving average is $123.75. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $160.88 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. RTX's dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $5,739,750.45. This trade 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. 0.15% of the stock is currently owned by corporate insiders.

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.

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