Howard Bailey Securities LLC Purchases New Shares in RTX Co. (NYSE:RTX)

Howard Bailey Securities LLC acquired a new position in RTX Co. (NYSE:RTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,309 shares of the company’s stock, valued at approximately $962,000.

A number of other large investors have also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. purchased a new position in RTX in the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the 4th quarter worth approximately $40,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the 3rd quarter valued at approximately $41,000. Finally, Iron Horse Wealth Management LLC raised its holdings in RTX by 296.8% during the 4th 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. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on RTX shares. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, UBS Group upped their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

RTX Price Performance

Shares of RTX stock opened at $126.82 on Thursday. The stock has a market capitalization of $168.94 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 2.17 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 twelve month low of $88.90 and a twelve month high of $132.43. The stock has a fifty day simple moving average of $120.55 and a two-hundred day simple moving average of $120.53.

RTX (NYSE:RTX) last issued its 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 net margin of 5.91% and a return on equity of 12.45%. On average, analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

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.