Mystic Asset Management Inc. Grows Stock Position in RTX Co. (NYSE:RTX)

Mystic Asset Management Inc. raised its holdings in RTX Co. (NYSE:RTX) by 12.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,728 shares of the company’s stock after acquiring an additional 4,861 shares during the period. RTX makes up 1.3% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. Mystic Asset Management Inc.’s holdings in RTX were worth $4,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TrinityPoint Wealth LLC grew its position in shares of RTX by 0.5% in the third quarter. TrinityPoint Wealth LLC now owns 38,752 shares of the company’s stock valued at $4,695,000 after purchasing an additional 186 shares in the last quarter. Aljian Capital Management LLC grew its position in shares of RTX by 31.8% during the 3rd quarter. Aljian Capital Management LLC now owns 21,631 shares of the company’s stock valued at $2,621,000 after purchasing an additional 5,219 shares in the last quarter. Quest Partners LLC raised its position in shares of RTX by 8,216.2% in the third quarter. Quest Partners LLC now owns 19,460 shares of the company’s stock worth $2,358,000 after buying an additional 19,226 shares in the last quarter. Taurus Asset Management LLC boosted its stake in RTX by 9.4% during the third quarter. Taurus Asset Management LLC now owns 4,344 shares of the company’s stock valued at $526,000 after buying an additional 375 shares during the period. Finally, Capital City Trust Co. FL increased its position in shares of RTX by 3.5% in the third quarter. Capital City Trust Co. FL now owns 9,327 shares of the company’s stock worth $1,130,000 after purchasing an additional 315 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.4 %

NYSE:RTX opened at $131.86 on Tuesday. RTX Co. has a 12 month low of $92.35 and a 12 month high of $135.36. The company has a 50-day moving average price of $125.69 and a 200-day moving average price of $122.23. 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 stock has a market cap of $176.04 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 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.