Coordinated Financial Services Inc. Acquires New Stake in RTX Co. (NYSE:RTX)

Coordinated Financial Services Inc. purchased a new position in RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,528 shares of the company’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Consolidated Planning Corp grew its position in RTX by 17.8% in the third quarter. Consolidated Planning Corp now owns 3,027 shares of the company’s stock worth $367,000 after acquiring an additional 458 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of RTX in the 3rd quarter worth approximately $88,000. Equitable Trust Co. lifted its stake in shares of RTX by 3.9% during the 3rd quarter. Equitable Trust Co. now owns 23,457 shares of the company’s stock worth $2,842,000 after purchasing an additional 879 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of RTX in the third quarter worth $4,255,000. Finally, Windward Capital Management Co. CA lifted its position in RTX by 1.4% during the 3rd quarter. Windward Capital Management Co. CA now owns 147,472 shares of the company’s stock worth $17,868,000 after acquiring an additional 2,076 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RTX. Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

Shares of NYSE RTX opened at $128.63 on Friday. RTX Co. has a twelve month low of $89.44 and a twelve month high of $135.36. 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 company has a market capitalization of $171.35 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78. The firm has a 50-day moving average of $124.02 and a two-hundred day moving average of $121.79.

RTX (NYSE:RTX) last posted 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 net margin of 5.91% and a return on equity of 12.45%. 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 declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given 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 dividend yield of 1.96%. RTX’s dividend payout ratio is currently 70.99%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now 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 filing with the SEC, which is available through this link. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at $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 79,831 shares of company stock valued at $10,309,302 over the last quarter. Insiders own 0.13% of the company’s stock.

RTX 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.