AIA Group Ltd Buys New Stake in RTX Corporation (NYSE:RTX)

Key Points

• AIA Group Ltd has acquired a new stake in RTX Corporation, purchasing 20,390 shares valued at approximately $2.7 million in the 1st quarter.
• Wall Street analysts have mixed ratings for RTX, with a consensus target price of $158.67, while several firms, including Goldman Sachs and Citigroup, have adjusted their price objectives upward.
• RTX declared a quarterly dividend of $0.68 per share, which reflects an annualized payout of $2.72 and a dividend yield of 1.8%.

AIA Group Ltd purchased a new stake in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 20,390 shares of the company's stock, valued at approximately $2,701,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RTX shares. The Goldman Sachs Group lifted their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity

In other news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $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. In the last three months, insiders have sold 39,935 shares of company stock valued at $5,938,488. 0.15% of the stock is owned by insiders.

RTX Trading Down 0.0%

NYSE RTX opened at $154.84 on Tuesday. 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 firm has a market cap of $207.25 billion, a PE ratio of 34.03, a P/E/G ratio of 2.85 and a beta of 0.69. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The firm's fifty day moving average is $148.22 and its two-hundred day moving average is $135.73.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company 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%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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

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.

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