Townsend & Associates Inc Purchases 67,594 Shares of RTX Co. (NYSE:RTX)

Townsend & Associates Inc increased its position in shares of RTX Co. (NYSE:RTX) by 68.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 165,674 shares of the company’s stock after buying an additional 67,594 shares during the period. RTX accounts for about 1.8% of Townsend & Associates Inc’s investment portfolio, making the stock its 17th largest holding. Townsend & Associates Inc’s holdings in RTX were worth $14,826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its holdings in shares of RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after buying an additional 28,910 shares in the last quarter. Mather Group LLC. boosted its stake in shares of RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Rockline Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter worth about $2,438,000. AllGen Financial Advisors Inc. increased its holdings in shares of RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after buying an additional 3,657 shares in the last quarter. Finally, B&D White Capital Company LLC bought a new position in RTX in the 3rd quarter valued at $14,186,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Bank of America increased their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Susquehanna increased their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $96.93.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders sold a total of 135,618 shares of company stock valued at $13,397,978 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

RTX Stock Up 1.3 %

Shares of NYSE RTX traded up $1.36 during trading hours on Thursday, hitting $105.30. The company had a trading volume of 2,988,928 shares, compared to its average volume of 8,006,328. The stock has a market capitalization of $140.00 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a 1-year low of $68.56 and a 1-year high of $105.60. The firm’s 50 day moving average is $97.48 and its 200-day moving average is $89.21. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. On average, analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.39%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

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.