Naviter Wealth LLC Has $2.29 Million Holdings in RTX Co. (NYSE:RTX)

Naviter Wealth LLC grew its stake in RTX Co. (NYSE:RTX) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,746 shares of the company’s stock after buying an additional 553 shares during the quarter. Naviter Wealth LLC’s holdings in RTX were worth $2,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the third quarter worth $29,000. Modus Advisors LLC bought a new stake in shares of RTX in 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 bought a new stake in shares of RTX in the third quarter worth $41,000. Finally, Iron Horse Wealth Management LLC lifted 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 worth $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Susquehanna boosted their price objective 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. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Bank of America upped their price target 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. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Trading Up 0.3 %

RTX stock opened at $128.63 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. The company’s 50-day simple moving average is $123.78 and its 200 day simple moving average is $121.70. RTX Co. has a 52 week low of $89.44 and a 52 week high of $135.36. The company has a market capitalization of $171.35 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 annualized dividend and a dividend yield of 1.96%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated 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 directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.