Stiles Financial Services Inc Has $2.95 Million Stake in RTX Co. (NYSE:RTX)

Stiles Financial Services Inc lessened its holdings in shares of RTX Co. (NYSE:RTX) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,493 shares of the company’s stock after selling 867 shares during the quarter. RTX makes up about 1.1% of Stiles Financial Services Inc’s holdings, making the stock its 25th biggest holding. Stiles Financial Services Inc’s holdings in RTX were worth $2,950,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new stake in RTX during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter valued at about $41,000. Iron Horse Wealth Management LLC raised its position in shares of RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of RTX during the 3rd quarter worth approximately $50,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RTX shares. Bank of America upped their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada increased their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Trading Down 0.6 %

NYSE:RTX opened at $128.07 on Monday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The firm’s fifty day moving average is $119.99 and its 200-day moving average is $120.28. The firm has a market cap of $170.60 billion, a P/E ratio of 36.08, a P/E/G ratio of 2.17 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 issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.