Legacy Solutions LLC Buys Shares of 2,479 RTX Co. (NYSE:RTX)

Legacy Solutions LLC purchased a new position in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,479 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors have also modified their holdings of the company. New Century Financial Group LLC purchased a new position in RTX during the 3rd quarter worth approximately $211,000. Allspring Global Investments Holdings LLC grew its stake in RTX by 21.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 530,729 shares of the company’s stock worth $64,303,000 after buying an additional 95,096 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of RTX by 52.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the company’s stock valued at $122,000 after buying an additional 345 shares in the last quarter. Waterway Wealth Management LLC bought a new stake in shares of RTX during the third quarter worth approximately $212,000. Finally, Ledyard National Bank raised its position in shares of RTX by 1.7% during the 3rd quarter. Ledyard National Bank now owns 16,197 shares of the company’s stock valued at $1,962,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RTX shares. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Bank of America increased their price objective 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. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.07.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 0.9 %

Shares of NYSE:RTX opened at $123.52 on Wednesday. The firm has a fifty day moving average price of $121.03 and a two-hundred day moving average price of $120.77. 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 one year low of $88.90 and a one year high of $132.43. The company has a market cap of $164.54 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results 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%. Analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

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.