Donoghue Forlines LLC Buys Shares of 17,595 RTX Corporation (NYSE:RTX)

Key Points

• Donoghue Forlines LLC acquired 17,595 shares of RTX Corporation worth approximately $2.3 million, representing about 0.7% of its portfolio.
• Insiders have sold a total of 39,935 shares of RTX worth nearly $5.9 million in the last 90 days, indicating potential shifts in management confidence.
• Several analysts have recently increased price targets for RTX, with Citigroup raising its target from $148 to $182, indicating positive market sentiment.

Donoghue Forlines LLC purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,595 shares of the company's stock, valued at approximately $2,331,000. RTX accounts for approximately 0.7% of Donoghue Forlines LLC's investment portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in RTX during the first quarter worth about $26,000. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter valued at $29,000. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter valued at $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX in the 4th quarter valued at $43,000. Finally, McClarren Financial Advisors Inc. acquired a new position in RTX in the 1st quarter worth $44,000. Institutional investors own 86.50% of the company's stock.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,935 shares of company stock worth $5,938,488 in the last three months. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna increased their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. JPMorgan Chase & Co. increased their price target on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Six research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.67.

RTX Price Performance

Shares of NYSE RTX traded down $0.02 during trading hours on Monday, hitting $154.84. 3,572,241 shares of the stock were exchanged, compared to its average volume of 5,106,436. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market cap of $207.25 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. The company's fifty day simple moving average is $148.22 and its two-hundred day simple moving average is $135.73. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79.

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 the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion for 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%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. On average, sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's payout ratio is 59.78%.

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.