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

Pointe Capital Management LLC increased its position in RTX Co. (NYSE:RTX) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 17,691 shares of the company’s stock after buying an additional 81 shares during the quarter. RTX makes up approximately 1.2% of Pointe Capital Management LLC’s portfolio, making the stock its 18th largest holding. Pointe Capital Management LLC’s holdings in RTX were worth $2,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CX Institutional boosted its stake in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares during the period. LRI Investments LLC lifted its holdings in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Napa Wealth Management bought a new position in RTX during the third quarter worth $1,307,000. Czech National Bank increased its holdings in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp raised its position in shares of RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after purchasing an additional 4,151 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RTX shares. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Susquehanna upped their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Bank of America increased their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock opened at $127.30 on Wednesday. The company’s 50-day moving average price is $121.84 and its two-hundred day moving average price is $121.13. RTX Co. has a 12 month low of $88.95 and a 12 month high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap 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.

RTX (NYSE:RTX) last announced its quarterly earnings data 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%. On average, analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

RTX 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.