Philip James Wealth Mangement LLC Has $1.43 Million Position in RTX Co. (NYSE:RTX)

Philip James Wealth Mangement LLC lessened its position in RTX Co. (NYSE:RTX) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,390 shares of the company’s stock after selling 2,027 shares during the period. Philip James Wealth Mangement LLC’s holdings in RTX were worth $1,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX in the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the third quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of RTX by 296.8% in the fourth 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 during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 2.5 %

Shares of NYSE:RTX opened at $122.68 on Monday. The business’s 50 day simple moving average is $120.79 and its two-hundred day simple moving average is $120.68. The firm has a market cap of $163.42 billion, a P/E ratio of 34.56, a PEG 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 Co. has a 52-week low of $88.90 and a 52-week high of $132.43.

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

RTX Dividend Announcement

The business also recently announced 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 is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. RTX’s payout ratio is 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Barclays raised their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.