Davis Rea LTD. Makes New Investment in RTX Corporation (NYSE:RTX)

Davis Rea LTD. bought a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 34,595 shares of the company's stock, valued at approximately $4,582,000. RTX comprises about 1.2% of Davis Rea LTD.'s holdings, making the stock its 29th biggest position.

Other large investors have also recently bought and sold shares of the company. One Wealth Advisors LLC acquired a new stake in shares of RTX during the first quarter worth $950,000. Innova Wealth Partners acquired a new stake in shares of RTX during the first quarter worth $204,000. Journey Strategic Wealth LLC boosted its holdings in shares of RTX by 8.1% during the first quarter. Journey Strategic Wealth LLC now owns 9,489 shares of the company's stock worth $1,257,000 after purchasing an additional 715 shares during the last quarter. Advisor OS LLC boosted its holdings in shares of RTX by 8.9% during the first quarter. Advisor OS LLC now owns 13,356 shares of the company's stock worth $1,769,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Holistic Financial Partners boosted its holdings in shares of RTX by 22.4% during the first quarter. Holistic Financial Partners now owns 6,814 shares of the company's stock worth $903,000 after purchasing an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. Citigroup lifted their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Wells Fargo & Company boosted their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $154.88.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,530 shares of company stock worth $3,080,191. Corporate insiders own 0.15% of the company's stock.

RTX Stock Up 1.1%

Shares of RTX traded up $1.64 during mid-day trading on Friday, reaching $156.86. The company's stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. The business has a fifty day moving average of $143.48 and a 200 day moving average of $132.81. The company has a market cap of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $157.33. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the company earned $1.41 earnings per share. RTX's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's dividend 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.