1,711 Shares in RTX Corporation (NYSE:RTX) Bought by Silver Oak Advisory Group Inc.

Key Points

• Silver Oak Advisory Group Inc. has acquired a new stake in RTX Corporation, purchasing 1,711 shares valued at approximately $226,000 during the first quarter.
• RTX reported earnings of $1.56 per share for the last quarter, exceeding analyst estimates, and had a revenue of $21.58 billion, reflecting a 9.4% increase compared to the previous year.
• The company declared a quarterly dividend of $0.68 per share, with an annualized yield of 1.7%, set to be paid to investors on September 4th.

Silver Oak Advisory Group Inc. bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,711 shares of the company's stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently modified their holdings of RTX. Guardian Wealth Advisors LLC NC raised its stake in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after buying an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after acquiring an additional 82 shares during the period. Weatherly Asset Management L. P. raised its position in shares of RTX by 0.4% in the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after acquiring an additional 82 shares in the last quarter. CLG LLC lifted its stake in shares of RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after purchasing an additional 83 shares during the period. Finally, 49 Wealth Management LLC boosted its position in shares of RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Down 0.3%

RTX stock opened at $155.89 on Thursday. The firm has a 50 day moving average of $147.09 and a 200 day moving average of $134.95. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $208.67 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.88 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. Sell-side analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Susquehanna raised their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,935 shares of company stock worth $5,938,488 over the last 90 days. 0.15% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.