Meriwether Wealth & Planning LLC Buys New Shares in RTX Co. (NYSE:RTX)

Meriwether Wealth & Planning LLC bought a new stake in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,752 shares of the company's stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Assetmark Inc. increased its position in shares of RTX by 10.7% in the third quarter. Assetmark Inc. now owns 143,375 shares of the company's stock valued at $17,371,000 after acquiring an additional 13,829 shares during the last quarter. Field & Main Bank grew its holdings in RTX by 1.3% during the third quarter. Field & Main Bank now owns 18,570 shares of the company's stock worth $2,250,000 after purchasing an additional 230 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in RTX by 0.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 299,093 shares of the company's stock worth $36,238,000 after purchasing an additional 773 shares during the period. Covestor Ltd grew its holdings in RTX by 48.4% during the third quarter. Covestor Ltd now owns 1,325 shares of the company's stock worth $160,000 after purchasing an additional 432 shares during the period. Finally, Houlihan Financial Resource Group Ltd. bought a new position in RTX during the third quarter worth about $219,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the subject of a number of research analyst reports. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. StockNews.com cut RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Susquehanna lifted their price target on RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Vertical Research upgraded RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.40.

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RTX Stock Up 0.3 %

NYSE RTX opened at $128.63 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 1-year low of $89.44 and a 1-year high of $135.36. The company has a 50 day moving average of $124.02 and a 200-day moving average of $121.83. The company has a market cap of $171.35 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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 expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.96%. 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 business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 over the last three months. Corporate insiders own 0.13% of the company's stock.

About RTX

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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