Spartan Planning & Wealth Management Purchases New Holdings in RTX Co. (NYSE:RTX)

Spartan Planning & Wealth Management bought a new stake in shares of RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,937 shares of the company’s stock, valued at approximately $224,000.

Several other large investors have also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter valued at $29,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter worth about $39,000. Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter worth about $41,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the 3rd quarter valued at about $41,000. Finally, Kimelman & Baird LLC bought a new stake in RTX during the 2nd quarter valued at about $46,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock traded up $0.43 on Tuesday, hitting $114.53. 1,276,064 shares of the company’s stock were exchanged, compared to its average volume of 2,791,091. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $152.44 billion, a PE ratio of 32.72, a PEG ratio of 2.08 and a beta of 0.81. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The company has a 50-day simple moving average of $118.64 and a 200-day simple moving average of $116.65.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RTX shares. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.67.

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.