Jones Financial Companies Lllp Grows Position in RTX Co. (NYSE:RTX)

Jones Financial Companies Lllp grew its position in RTX Co. (NYSE:RTX) by 30.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 519,058 shares of the company’s stock after acquiring an additional 122,440 shares during the quarter. Jones Financial Companies Lllp’s holdings in RTX were worth $60,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Modera Wealth Management LLC boosted its stake in RTX by 5.1% during the 4th quarter. Modera Wealth Management LLC now owns 51,177 shares of the company’s stock worth $5,922,000 after purchasing an additional 2,487 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of RTX by 24.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,851 shares of the company’s stock worth $562,000 after buying an additional 956 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of RTX during the fourth quarter worth about $152,000. Smartleaf Asset Management LLC increased its position in RTX by 30.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 10,630 shares of the company’s stock valued at $1,225,000 after acquiring an additional 2,455 shares during the period. Finally, Bridges Investment Management Inc. lifted its position in RTX by 1.0% during the 4th quarter. Bridges Investment Management Inc. now owns 29,424 shares of the company’s stock worth $3,405,000 after acquiring an additional 297 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 36,334 shares of company stock worth $4,639,194 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Price Performance

RTX stock opened at $133.02 on Friday. The firm has a market capitalization of $177.19 billion, a PE ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 52 week low of $88.95 and a 52 week high of $133.09. The firm’s 50-day simple moving average is $122.72 and its 200 day simple moving average is $121.38. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is 70.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

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.