Allstate Corp Raises Stock Position in RTX Corporation $RTX

Key Points

• Allstate Corp increased its stake in RTX Corporation by 17.4% in the first quarter, raising its total holdings to 46,292 shares valued at approximately $6.13 million.
• RTX reported quarterly earnings of $1.56 per share, surpassing estimates, with revenue reaching $21.58 billion—a 9.4% increase year-over-year.
• The company announced a quarterly dividend of $0.68 per share, yielding 1.7%, with a payout ratio of 59.78%.

Allstate Corp lifted its stake in RTX Corporation (NYSE:RTX - Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,292 shares of the company's stock after buying an additional 6,868 shares during the quarter. Allstate Corp's holdings in RTX were worth $6,132,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX in the 1st quarter valued at approximately $26,000. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC purchased a new position in shares of RTX during the 4th quarter valued at approximately $34,000. Summit Securities Group LLC purchased a new position in shares of RTX during the 1st quarter valued at approximately $40,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in RTX in the 4th quarter valued at $43,000. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider owned 16,442 shares in the company, valued at $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business'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 sale, the executive vice president directly owned 13,184 shares in the company, 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. Insiders sold 47,589 shares of company stock worth $7,126,389 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RTX shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Barclays increased their target price on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, JPMorgan Chase & Co. increased their target price on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Stock Down 0.0%

Shares of NYSE:RTX traded down $0.02 during trading on Monday, hitting $156.22. 2,430,243 shares of the company were exchanged, compared to its average volume of 5,241,477. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market cap of $209.11 billion, a price-to-earnings ratio of 34.33, a P/E/G ratio of 2.88 and a beta of 0.69. The firm has a fifty day moving average price of $150.96 and a two-hundred day moving average price of $137.46.

RTX (NYSE:RTX - Get Free Report) last issued 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 net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the business posted $1.41 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts anticipate 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. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. 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.