Parthenon LLC Buys 211 Shares of RTX Co. (NYSE:RTX)

Parthenon LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,428 shares of the company’s stock after purchasing an additional 211 shares during the quarter. Parthenon LLC’s holdings in RTX were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter valued at $29,000. Western Pacific Wealth Management LP bought a new position in RTX during the 3rd quarter valued at about $41,000. Modus Advisors LLC purchased a new stake in RTX in the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX in the fourth quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC boosted its position in shares of 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 buying an additional 279 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 1.2 %

Shares of NYSE RTX opened at $125.26 on Thursday. The stock has a market capitalization of $166.87 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The stock’s fifty day simple moving average is $121.20 and its two-hundred day simple moving average is $120.80.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.