Steward Partners Investment Advisory LLC Has $20.99 Million Stock Position in RTX Co. (NYSE:RTX)

Steward Partners Investment Advisory LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,418 shares of the company’s stock after buying an additional 11,849 shares during the period. Steward Partners Investment Advisory LLC’s holdings in RTX were worth $20,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in RTX during the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new position in RTX during the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter worth about $40,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC raised its holdings 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 purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $133.68 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $178.08 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company’s 50 day moving average price is $123.06 and its two-hundred day moving average price is $121.52. RTX Co. has a 52 week low of $89.14 and a 52 week high of $135.36.

RTX (NYSE:RTX) last announced its 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%. On average, analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued 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 1.89%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent research reports. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Susquehanna boosted their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

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.