RTX Co. (NYSE:RTX) Shares Bought by Townsend & Associates Inc

Townsend & Associates Inc increased its position in RTX Co. (NYSE:RTX) by 68.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,674 shares of the company’s stock after acquiring an additional 67,594 shares during the period. RTX makes up about 1.8% of Townsend & Associates Inc’s investment portfolio, making the stock its 17th biggest position. Townsend & Associates Inc’s holdings in RTX were worth $14,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its position in shares of RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares during the last quarter. Mather Group LLC. raised its holdings in shares of RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares during the last quarter. Rockline Wealth Management LLC purchased a new stake in shares of RTX in the fourth quarter valued at $2,438,000. AllGen Financial Advisors Inc. boosted its stake in shares of RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after acquiring an additional 3,657 shares during the last quarter. Finally, B&D White Capital Company LLC purchased a new stake in RTX during the 3rd quarter worth about $14,186,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Susquehanna lifted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Finally, TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.93.

Insider Activity

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders sold 135,618 shares of company stock worth $13,397,978 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Up 1.3 %

RTX stock traded up $1.36 during midday trading on Thursday, reaching $105.30. 2,988,928 shares of the company’s stock traded hands, compared to its average volume of 8,006,328. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $105.60. The business has a 50-day moving average price of $97.48 and a two-hundred day moving average price of $89.21. The company has a market capitalization of $140.00 billion, a P/E ratio of 40.73, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 EPS. Equities research analysts forecast that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.39%. RTX’s dividend payout ratio is 92.55%.

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.