Midwest Professional Planners LTD. Buys 1,580 Shares of RTX Co. (NYSE:RTX)

Midwest Professional Planners LTD. boosted its stake in shares of RTX Co. (NYSE:RTX) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,916 shares of the company’s stock after purchasing an additional 1,580 shares during the period. Midwest Professional Planners LTD.’s holdings in RTX were worth $1,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in RTX in the third quarter worth approximately $29,000. Fairway Wealth LLC bought a new position in RTX in the fourth quarter worth approximately $31,000. Modus Advisors LLC bought a new position in RTX in the fourth quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the fourth quarter worth approximately $40,000. Finally, Iron Horse Wealth Management LLC raised its position in 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 acquiring an additional 279 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last three months. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX opened at $129.14 on Friday. The stock has a market capitalization of $172.03 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.11 and a beta of 0.78. The company has a fifty day moving average of $124.78 and a 200 day moving average of $122.01. RTX Co. has a fifty-two week low of $91.05 and a fifty-two week high of $135.36. 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 issued 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 net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. RTX’s payout ratio is currently 70.99%.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

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.