Pointe Capital Management LLC Acquires 81 Shares of RTX Co. (NYSE:RTX)

Pointe Capital Management LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,691 shares of the company’s stock after acquiring an additional 81 shares during the quarter. RTX makes up approximately 1.2% of Pointe Capital Management LLC’s holdings, making the stock its 18th biggest holding. Pointe Capital Management LLC’s holdings in RTX were worth $2,047,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent research reports. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $142.00 to $147.00 in a research note on Monday. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted 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. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Transactions at RTX

In related 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 sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

RTX Trading Up 1.5 %

RTX opened at $127.30 on Wednesday. The firm’s fifty day simple moving average is $121.84 and its 200 day simple moving average is $121.13. The stock has a market capitalization of $169.58 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.11 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 12 month low of $88.95 and a 12 month high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts anticipate 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. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. RTX’s dividend payout ratio (DPR) is presently 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.