Tower Wealth Partners Inc. Purchases New Stake in RTX Co. (NYSE:RTX)

Tower Wealth Partners Inc. purchased a new position in RTX Co. (NYSE:RTX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,772 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Assetmark Inc. raised its holdings in shares of RTX by 10.7% during the third quarter. Assetmark Inc. now owns 143,375 shares of the company’s stock valued at $17,371,000 after acquiring an additional 13,829 shares in the last quarter. Field & Main Bank increased its position in RTX by 1.3% during the 3rd quarter. Field & Main Bank now owns 18,570 shares of the company’s stock valued at $2,250,000 after purchasing an additional 230 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in RTX by 0.3% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 299,093 shares of the company’s stock worth $36,238,000 after purchasing an additional 773 shares in the last quarter. Covestor Ltd lifted its position in shares of RTX by 48.4% in the 3rd quarter. Covestor Ltd now owns 1,325 shares of the company’s stock worth $160,000 after purchasing an additional 432 shares during the period. Finally, Houlihan Financial Resource Group Ltd. bought a new stake in shares of RTX during the 3rd quarter valued at about $219,000. 86.50% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. 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 three months. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $128.63 on Monday. The company has a 50 day moving average of $124.02 and a 200 day moving average of $121.83. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $89.44 and a twelve month high of $135.36. The firm has a market cap of $171.35 billion, a P/E ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its quarterly 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 return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid 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 presently 70.99%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley increased 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. JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Five equities research 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 stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Company 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.