Townsend & Associates Inc Has $22.23 Million Stake in RTX Co. (NYSE:RTX)

Townsend & Associates Inc lifted its position in RTX Co. (NYSE:RTX) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,738 shares of the company’s stock after purchasing an additional 1,456 shares during the quarter. RTX accounts for 2.3% of Townsend & Associates Inc’s portfolio, making the stock its 14th largest position. Townsend & Associates Inc’s holdings in RTX were worth $22,225,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Avestar Capital LLC raised its stake in shares of RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares in the last quarter. Arbor Wealth Advisors LLC raised its stake in RTX by 3.7% during the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after acquiring an additional 85 shares in the last quarter. Moloney Securities Asset Management LLC raised its stake in RTX by 0.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after acquiring an additional 85 shares in the last quarter. Traveka Wealth LLC raised its stake in RTX by 3.2% during the fourth quarter. Traveka Wealth LLC now owns 2,789 shares of the company’s stock worth $323,000 after acquiring an additional 86 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in RTX by 0.9% during the fourth quarter. MCF Advisors LLC now owns 10,053 shares of the company’s stock worth $1,163,000 after acquiring an additional 87 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

RTX stock opened at $123.23 on Friday. The business’s 50-day simple moving average is $121.49 and its 200 day simple moving average is $120.93. The stock has a market cap of $164.16 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 12-month low of $88.90 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.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. As a group, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RTX. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna increased their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley increased their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Six equities research 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. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Company 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.