SPC Financial Inc. Acquires New Shares in RTX Co. (NYSE:RTX)

SPC Financial Inc. purchased a new stake in RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,984 shares of the company's stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. bought a new position in RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the 4th quarter worth approximately $40,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the 3rd quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of RTX by 296.8% in the 4th 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 last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and raised their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Argus raised RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Citigroup raised RTX from a "neutral" rating to a "buy" rating and raised their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $163.40.

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RTX Price Performance

Shares of RTX stock traded up $0.35 during mid-day trading on Friday, hitting $128.63. 6,417,602 shares of the stock traded hands, compared to its average volume of 5,618,016. RTX Co. has a twelve month low of $89.44 and a twelve month high of $135.36. The firm has a market cap of $171.35 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company's 50-day simple moving average is $123.78 and its 200-day simple moving average is $121.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results 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%. As a group, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.