Tower Wealth Partners Inc. Takes $205,000 Position in RTX Co. (NYSE:RTX)

Tower Wealth Partners Inc. bought a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,772 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Fusion Capital LLC grew its stake in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc grew its position in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. increased its stake in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares in the last quarter. Pointe Capital Management LLC raised its holdings in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares during the last quarter. Finally, Avestar Capital LLC lifted its stake in shares of RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after buying an additional 85 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Performance

NYSE:RTX opened at $128.63 on Monday. The stock has a market cap of $171.35 billion, a P/E ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $124.02 and its two-hundred day moving average price is $121.83. RTX Co. has a twelve month low of $89.44 and a twelve month high of $135.36.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.96%. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. 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 90 days. Corporate insiders own 0.13% of the company’s stock.

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.