Alliancebernstein L.P. Grows Stock Holdings in RTX Corporation $RTX

Key Points

• Alliancebernstein L.P. increased its stake in RTX Corporation by 10.2% during Q1, owning approximately 4.93 million shares valued at about $653 million.
• RTX reported $1.56 EPS for the latest quarter, exceeding analysts' estimates and demonstrating a 9.4% year-over-year revenue increase to $21.58 billion.
• The company declared a quarterly dividend of $0.68, representing an annual yield of 1.7%, with a payout ratio of 59.78%.

Alliancebernstein L.P. boosted its stake in RTX Corporation (NYSE:RTX - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,932,242 shares of the company's stock after purchasing an additional 454,584 shares during the quarter. Alliancebernstein L.P. owned about 0.37% of RTX worth $653,325,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter valued at about $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $40,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of RTX during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

RTX stock opened at $157.91 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $161.26. The firm has a market capitalization of $211.37 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The company's 50-day moving average is $152.78 and its 200 day moving average is $138.94.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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%. The ex-dividend date is Friday, August 15th. RTX's dividend payout ratio is currently 59.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RTX shares. UBS Group upped their target price on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insiders Place Their Bets

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by company insiders.

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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