Sunpointe LLC Has $352,000 Position in RTX Co. (NYSE:RTX)

Sunpointe LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,038 shares of the company’s stock after purchasing an additional 550 shares during the period. Sunpointe LLC’s holdings in RTX were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter valued at $41,000. Modus Advisors LLC acquired a new position in RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX in the 4th quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC grew its position in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

Shares of RTX stock opened at $125.26 on Thursday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The stock has a market capitalization of $166.87 billion, a PE ratio of 35.29, a PEG ratio of 2.09 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock’s fifty day moving average is $121.20 and its 200-day moving average is $120.80.

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 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%. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s payout ratio is 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.