Confluence Wealth Services Inc. Buys 315 Shares of RTX Co. (NYSE:RTX)

Confluence Wealth Services Inc. lifted its stake in shares of RTX Co. (NYSE:RTX) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,140 shares of the company’s stock after acquiring an additional 315 shares during the period. Confluence Wealth Services Inc.’s holdings in RTX were worth $523,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of RTX by 73.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 136,867 shares of the company’s stock valued at $15,965,000 after acquiring an additional 57,873 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in shares of RTX during the 4th quarter worth approximately $559,000. Lockheed Martin Investment Management Co. raised its stake in shares of RTX by 10.7% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 89,820 shares of the company’s stock worth $10,394,000 after purchasing an additional 8,690 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of RTX by 230.5% in the 4th quarter. Y.D. More Investments Ltd now owns 628 shares of the company’s stock valued at $73,000 after buying an additional 438 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in RTX during the fourth quarter worth $1,011,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.6 %

RTX opened at $129.12 on Thursday. The stock has a market capitalization of $171.86 billion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The company has a 50-day simple moving average of $119.70 and a 200 day simple moving average of $119.83.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts predict that RTX Co. will post 6.12 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.95%. RTX’s dividend payout ratio is presently 70.99%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RTX shares. Morgan Stanley increased their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, UBS Group increased their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

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.