West Michigan Advisors LLC Purchases 486 Shares of RTX Co. (NYSE:RTX)

West Michigan Advisors LLC boosted its holdings in RTX Co. (NYSE:RTX) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,226 shares of the company’s stock after buying an additional 486 shares during the quarter. West Michigan Advisors LLC’s holdings in RTX were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. bought a new position in shares of RTX during the third quarter valued at $29,000. Modus Advisors LLC acquired a new stake in RTX in the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the 4th quarter worth $40,000. Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of 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.

RTX Trading Up 1.9 %

Shares of RTX stock opened at $133.02 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 52 week low of $88.95 and a 52 week high of $133.09. The stock has a 50 day moving average price of $122.72 and a two-hundred day moving average price of $121.38. The stock has a market capitalization of $177.19 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RTX. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.40.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction 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 transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,334 shares of company stock valued at $4,639,194. Corporate insiders own 0.13% 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.