Horizon Investments LLC Increases Stock Position in RTX Co. (NYSE:RTX)

Horizon Investments LLC raised its stake in RTX Co. (NYSE:RTX) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,611 shares of the company’s stock after buying an additional 1,001 shares during the period. Horizon Investments LLC’s holdings in RTX were worth $5,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Custos Family Office LLC bought a new position in shares of RTX during the 4th quarter valued at $616,000. Mystic Asset Management Inc. increased its stake in RTX by 12.8% in the 4th quarter. Mystic Asset Management Inc. now owns 42,728 shares of the company’s stock worth $4,945,000 after purchasing an additional 4,861 shares during the period. Axxcess Wealth Management LLC grew its holdings in RTX by 3.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 56,813 shares of the company’s stock worth $6,574,000 after acquiring an additional 1,681 shares during the last quarter. Edgemoor Investment Advisors Inc. raised its position in RTX by 16.8% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 4,459 shares of the company’s stock valued at $516,000 after purchasing an additional 641 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in RTX in the fourth quarter valued at $259,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of analyst reports. UBS Group raised 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 report on Monday, February 24th. Morgan Stanley increased their target price on 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 note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% of the company’s stock.

RTX Trading Up 1.4 %

Shares of RTX opened at $131.86 on Tuesday. RTX Co. has a 1 year low of $92.35 and a 1 year high of $135.36. The company has a 50 day simple moving average of $125.69 and a two-hundred day simple moving average of $122.23. 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 firm has a market cap of $176.04 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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, equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 21st. 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.