Purkiss Capital Advisors LLC Makes New Investment in RTX Co. (NYSE:RTX)

Purkiss Capital Advisors LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,748 shares of the company’s stock, valued at approximately $665,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter valued at approximately $29,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the third quarter worth $41,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the fourth quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on RTX. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

RTX opened at $133.02 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $177.19 billion, a P/E ratio of 37.47, a PEG ratio of 2.11 and a beta of 0.82. The stock has a 50-day moving average price of $122.72 and a 200-day moving average price of $121.38. RTX Co. has a 12-month low of $88.95 and a 12-month high of $133.09.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred 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 transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,334 shares of company stock valued at $4,639,194 over the last three months. Insiders own 0.13% of the company’s stock.

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.