Ellis Investment Partners LLC Buys 176 Shares of RTX Co. (NYSE:RTX)

Ellis Investment Partners LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,130 shares of the company’s stock after acquiring an additional 176 shares during the quarter. Ellis Investment Partners LLC’s holdings in RTX were worth $1,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter valued at $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the 3rd quarter worth $41,000. Modus Advisors LLC acquired a new stake in shares of RTX in the 4th quarter worth $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the 4th quarter worth $40,000. Finally, Iron Horse Wealth Management LLC boosted 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 worth $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $122.68 on Friday. The stock has a 50-day simple moving average of $120.79 and a two-hundred day simple moving average of $120.65. The firm has a market capitalization of $163.42 billion, a P/E ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. 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 announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. On average, equities analysts forecast 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. Investors 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 annualized dividend and a dividend yield of 2.05%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RTX. Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.07.

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.