Principal Securities Inc. Purchases 8,513 Shares of RTX Co. (NYSE:RTX)

Principal Securities Inc. raised its position in RTX Co. (NYSE:RTX) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,439 shares of the company’s stock after purchasing an additional 8,513 shares during the quarter. Principal Securities Inc.’s holdings in RTX were worth $4,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the fourth quarter worth $40,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC raised its position 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. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

RTX Trading Down 2.5 %

NYSE RTX opened at $122.68 on Monday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The business has a 50 day moving average price of $120.79 and a 200-day moving average price of $120.68. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $163.42 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data 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%. 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. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group upped their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

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.