Latitude Advisors LLC Invests $226,000 in RTX Co. (NYSE:RTX)

Latitude Advisors LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,954 shares of the company’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CX Institutional lifted its position in RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after buying an additional 11,706 shares during the last quarter. LRI Investments LLC raised its position in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new position in shares of RTX in the third quarter worth approximately $1,307,000. Czech National Bank lifted its holdings in RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent research reports. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” 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 company a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley increased their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Up 0.1 %

Shares of NYSE RTX opened at $128.11 on Tuesday. 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 50-day moving average of $120.18 and a 200 day moving average of $120.38. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The stock has a market cap of $170.65 billion, a PE ratio of 36.09, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, sell-side analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company 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 dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.