Brooklyn FI LLC Makes New $533,000 Investment in RTX Co. (NYSE:RTX)

Brooklyn FI LLC purchased a new stake in RTX Co. (NYSE:RTX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,416 shares of the company’s stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Fairway Wealth LLC bought a new position in RTX in the 4th quarter worth $31,000. Picton Mahoney Asset Management increased its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Modus Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC grew its holdings in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RTX. UBS Group raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Price Performance

RTX stock opened at $135.47 on Thursday. The business has a 50 day simple moving average of $126.43 and a 200 day simple moving average of $122.39. RTX Co. has a one year low of $94.08 and a one year high of $136.01. The company has a market capitalization of $180.86 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company’s stock.

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.