King Wealth Management Group Raises Holdings in RTX Co. (NYSE:RTX)

King Wealth Management Group grew its holdings in shares of RTX Co. (NYSE:RTX) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,523 shares of the company’s stock after purchasing an additional 98 shares during the quarter. King Wealth Management Group’s holdings in RTX were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter worth about $29,000. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter worth approximately $31,000. Modus Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the 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 completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Up 0.9 %

Shares of NYSE RTX opened at $129.14 on Friday. The stock has a fifty day simple moving average of $124.78 and a 200-day simple moving average of $122.01. RTX Co. has a twelve month low of $91.05 and a twelve month high of $135.36. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $172.03 billion, a PE ratio of 36.38, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its earnings results 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 return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared 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 of this dividend 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%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTX. Royal Bank of Canada upped their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.40.

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.