Portfolio Design Labs LLC Increases Stock Position in RTX Co. (NYSE:RTX)

Portfolio Design Labs LLC lifted its holdings in RTX Co. (NYSE:RTX) by 38.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,840 shares of the company’s stock after purchasing an additional 6,063 shares during the period. Portfolio Design Labs LLC’s holdings in RTX were worth $2,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in RTX during the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the fourth quarter valued at approximately $40,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter valued at approximately $41,000. Finally, Iron Horse Wealth Management LLC lifted its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.6 %

NYSE:RTX opened at $129.01 on Wednesday. The firm has a market capitalization of $171.86 billion, a P/E ratio of 36.34, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company’s fifty day moving average price is $120.40 and its 200-day moving average price is $120.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last released its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.95%. RTX’s dividend payout ratio is presently 70.99%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RTX. UBS Group increased their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, 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 research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s 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 sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

RTX 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.