Howard Bailey Securities LLC Acquires New Position in RTX Co. (NYSE:RTX)

Howard Bailey Securities LLC purchased a new position in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,309 shares of the company’s stock, valued at approximately $962,000.

Other hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in RTX during the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the 4th quarter worth $40,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the third quarter worth $41,000. Finally, Iron Horse Wealth Management LLC increased its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on RTX. UBS Group raised their target price on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Susquehanna boosted their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

Shares of RTX stock opened at $126.82 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The stock’s 50-day simple moving average is $120.55 and its 200-day simple moving average is $120.53. The company has a market capitalization of $168.94 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.17 and a beta of 0.82.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid 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 1.99%. 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.