Spartan Planning & Wealth Management Invests $224,000 in RTX Co. (NYSE:RTX)

Spartan Planning & Wealth Management bought a new stake in shares of RTX Co. (NYSE:RTX) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,937 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of RTX. Iowa State Bank increased its position in RTX by 0.3% in the fourth quarter. Iowa State Bank now owns 35,413 shares of the company’s stock worth $4,098,000 after purchasing an additional 109 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of RTX by 12.0% in the 4th quarter. CWA Asset Management Group LLC now owns 39,313 shares of the company’s stock worth $4,549,000 after buying an additional 4,198 shares during the last quarter. First Citizens Financial Corp raised its position in shares of RTX by 4.9% during the 4th quarter. First Citizens Financial Corp now owns 3,777 shares of the company’s stock valued at $437,000 after buying an additional 175 shares in the last quarter. Modus Advisors LLC purchased a new position in RTX in the fourth quarter worth about $39,000. Finally, GAMMA Investing LLC increased its stake in RTX by 5.8% during the fourth quarter. GAMMA Investing LLC now owns 27,869 shares of the company’s stock worth $3,225,000 after acquiring an additional 1,528 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent research reports. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $178.67.

RTX Stock Up 0.4 %

Shares of RTX stock traded up $0.43 during trading on Tuesday, hitting $114.53. 1,276,064 shares of the stock traded hands, compared to its average volume of 2,791,091. RTX Co. has a 52-week low of $84.43 and a 52-week high of $128.70. The stock’s fifty day simple moving average is $118.64 and its 200 day simple moving average is $116.65. The firm has a market cap of $152.44 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.20%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.