Coordinated Financial Services Inc. Invests $524,000 in RTX Co. (NYSE:RTX)

Coordinated Financial Services Inc. acquired a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,528 shares of the company’s stock, valued at approximately $524,000.

Other hedge funds have also modified their holdings of the company. CX Institutional raised its holdings in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares during the period. National Pension Service raised its position in RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares in the last quarter. LRI Investments LLC raised its position in RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares in the last quarter. Napa Wealth Management bought a new stake in RTX during the third quarter worth $1,307,000. Finally, Czech National Bank raised its stake in RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after acquiring an additional 17,608 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.3 %

Shares of RTX opened at $128.63 on Friday. RTX Co. has a 1-year low of $89.44 and a 1-year high of $135.36. The firm has a market capitalization of $171.35 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78. The firm’s 50-day moving average price is $124.02 and its 200-day moving average price is $121.79. 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 (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares of the company’s stock, valued at $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Bank of America boosted 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. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

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.