Waterfront Wealth Inc. Has $1.19 Million Stake in RTX Co. (NYSE:RTX)

Waterfront Wealth Inc. increased its holdings in shares of RTX Co. (NYSE:RTX) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,252 shares of the company’s stock after acquiring an additional 240 shares during the period. Waterfront Wealth Inc.’s holdings in RTX were worth $1,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter worth $29,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the third quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC raised 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 valued at $43,000 after purchasing an additional 279 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.1 %

RTX opened at $125.25 on Friday. The company’s 50 day moving average is $121.38 and its 200-day moving average is $120.83. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $166.85 billion, a P/E ratio of 35.28, a PEG ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RTX. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Wells Fargo & Company increased their price objective 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. Finally, Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average price target of $163.07.

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.