Holderness Investments Co. Buys 462 Shares of RTX Co. (NYSE:RTX)

Holderness Investments Co. boosted its holdings in shares of RTX Co. (NYSE:RTX) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,929 shares of the company’s stock after purchasing an additional 462 shares during the quarter. Holderness Investments Co.’s holdings in RTX were worth $2,306,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Modus Advisors LLC purchased a new stake in shares of RTX in the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC raised 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 acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Bank of America increased their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Stock Down 0.7 %

Shares of RTX stock opened at $134.37 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $94.08 and a 1 year high of $135.74. The firm’s 50-day moving average is $126.80 and its two-hundred day moving average is $122.47. The stock has a market cap of $179.40 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.11 and a beta of 0.78.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is currently 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.