Castle Wealth Management LLC Buys 111 Shares of RTX Co. (NYSE:RTX)

Castle Wealth Management LLC increased its stake in RTX Co. (NYSE:RTX) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,341 shares of the company’s stock after acquiring an additional 111 shares during the period. Castle Wealth Management LLC’s holdings in RTX were worth $271,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in RTX in the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in RTX in the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the 4th quarter worth approximately $40,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC raised its position in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $126.82 on Thursday. The firm has a market capitalization of $168.94 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth 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 12-month low of $88.90 and a 12-month high of $132.43. The firm has a fifty day moving average of $120.55 and a 200-day moving average of $120.53.

RTX (NYSE:RTX) last announced its 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%. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Wall Street Analyst Weigh In

RTX has been the subject of several recent research reports. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Five research 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. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price 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.