Affinity Investment Advisors LLC Increases Position in RTX Corporation (NYSE:RTX)

Key Points

• Affinity Investment Advisors LLC increased its position in RTX Corporation by 96.5% during the first quarter, resulting in a total of 7,270 shares valued at approximately $963,000.
• Multiple large investors, including Deutsche Bank AG and Dynamic Advisor Solutions LLC, also modified their holdings in RTX, with hedge funds and institutional investors owning 86.50% of the company's stock.
• RTX recently announced a quarterly dividend of $0.68 per share, representing a 1.8% dividend yield and a payout ratio of 59.78%.

Affinity Investment Advisors LLC increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 96.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,270 shares of the company's stock after purchasing an additional 3,570 shares during the period. Affinity Investment Advisors LLC's holdings in RTX were worth $963,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RTX. Bay Capital Advisors LLC bought a new stake in RTX during the 1st quarter valued at approximately $224,000. Dynamic Advisor Solutions LLC grew its holdings in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after buying an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC bought a new stake in shares of RTX during the first quarter valued at approximately $1,288,000. Deutsche Bank AG lifted its holdings in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares in the last quarter. Finally, LBP AM SA boosted its position in shares of RTX by 17.7% during the first quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after acquiring an additional 41,990 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company'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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,589 shares of company stock valued at $7,126,389. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RTX shares. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Morgan Stanley boosted 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. Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Barclays lifted their price objective on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $158.67.

RTX Stock Performance

Shares of NYSE:RTX opened at $154.04 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79. The company has a market capitalization of $206.19 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.84 and a beta of 0.69. The firm's 50-day moving average is $149.54 and its 200 day moving average is $136.47.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.

About RTX

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.

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