RTX Co. (NYSE:RTX) Shares Bought by Summit Asset Management LLC

Summit Asset Management LLC raised its holdings in RTX Co. (NYSE:RTX) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,854 shares of the company’s stock after acquiring an additional 800 shares during the period. Summit Asset Management LLC’s holdings in RTX were worth $1,256,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New England Professional Planning Group Inc. lifted its position in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after buying an additional 81 shares during the last quarter. Avestar Capital LLC lifted its position in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC lifted its position in RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after purchasing an additional 85 shares during the last quarter. Moloney Securities Asset Management LLC lifted its position in RTX by 0.7% in the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after purchasing an additional 85 shares during the last quarter. Finally, Traveka Wealth LLC lifted its position in RTX by 3.2% in the 4th quarter. Traveka Wealth LLC now owns 2,789 shares of the company’s stock valued at $323,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $123.23 on Friday. The company’s 50 day moving average price is $121.49 and its 200 day moving average price is $120.93. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a market capitalization of $164.16 billion, a PE ratio of 34.71, a PEG ratio of 2.11 and a beta of 0.82. 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 (NYSE:RTX) last posted its earnings results 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%. Research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent research reports. Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Morgan Stanley boosted 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. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, RTX has an average 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.