Tower Wealth Partners Inc. Has $310,000 Position in RTX Co. (NYSE:RTX)

Tower Wealth Partners Inc. boosted its holdings in RTX Co. (NYSE:RTX) by 31.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,338 shares of the company’s stock after acquiring an additional 566 shares during the quarter. Tower Wealth Partners Inc.’s holdings in RTX were worth $310,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. 10Elms LLP acquired a new stake in RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new position in RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RTX shares. Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. UBS Group raised their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, Royal Bank of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $159.82.

RTX Trading Up 0.1%

NYSE RTX opened at $139.21 on Friday. The stock has a market capitalization of $185.98 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a one year low of $99.07 and a one year high of $140.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s fifty day moving average is $129.63 and its 200-day moving average is $125.75.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

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.