Kestra Private Wealth Services LLC Grows Stake in RTX Co. (NYSE:RTX)

Kestra Private Wealth Services LLC boosted its holdings in RTX Co. (NYSE:RTX) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,698 shares of the company’s stock after purchasing an additional 17,628 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in RTX were worth $20,216,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter valued at $29,000. Modus Advisors LLC acquired a new stake in shares of RTX during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the 3rd quarter valued at about $41,000. Iron Horse Wealth Management LLC grew its stake in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after buying an additional 279 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in RTX during the third quarter worth approximately $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

NYSE:RTX opened at $128.07 on Friday. 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 firm’s fifty day simple moving average is $119.99 and its 200-day simple moving average is $120.17. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The stock has a market cap of $170.60 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s payout ratio is 70.99%.

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.