IFP Advisors Inc Boosts Stock Holdings in RTX Co. (NYSE:RTX)

IFP Advisors Inc boosted its position in shares of RTX Co. (NYSE:RTX) by 284.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,023 shares of the company’s stock after buying an additional 34,789 shares during the period. IFP Advisors Inc’s holdings in RTX were worth $5,442,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the third quarter valued at approximately $41,000. Modus Advisors LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of RTX by 296.8% in the fourth 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 in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Down 1.5 %

RTX stock opened at $123.23 on Monday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The stock’s fifty day simple moving average is $121.49 and its 200-day simple moving average is $120.98. 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 firm has a market capitalization of $164.16 billion, a P/E ratio of 34.71, a P/E/G ratio of 2.11 and a beta of 0.82.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate 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.