Atlas Legacy Advisors LLC Purchases New Position in RTX Co. (NYSE:RTX)

Atlas Legacy Advisors LLC purchased a new stake in RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,268 shares of the company’s stock, valued at approximately $378,000.

Other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the 3rd quarter valued at approximately $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the 3rd quarter valued at approximately $41,000. Modus Advisors LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the 4th quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

NYSE:RTX opened at $125.26 on Thursday. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. 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 firm has a fifty day simple moving average of $121.20 and a 200 day simple moving average of $120.80. The stock has a market capitalization of $166.87 billion, a PE ratio of 35.29, a P/E/G ratio of 2.06 and a beta of 0.82.

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 net margin of 5.91% and a return on equity of 12.45%. On average, research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction 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 $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. UBS Group raised their target price on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised 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. Finally, Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus 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.