Arkadios Wealth Advisors Has $4.16 Million Stock Position in RTX Corporation (NYSE:RTX)

Key Points

• Arkadios Wealth Advisors increased its holdings in RTX Corporation by 53.5% in Q1, owning 31,401 shares valued at approximately $4.16 million.
• RTX reported $1.56 earnings per share for the quarter, exceeding analysts' expectations of $1.45 and generating revenue of $21.58 billion, up 9.4% year-over-year.
• RTX announced a quarterly dividend of $0.68 per share, reflecting an annualized dividend of $2.72 and a dividend yield of 1.72%.

Arkadios Wealth Advisors boosted its position in RTX Corporation (NYSE:RTX - Free Report) by 53.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,401 shares of the company's stock after buying an additional 10,940 shares during the quarter. Arkadios Wealth Advisors' holdings in RTX were worth $4,159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in RTX in the first quarter valued at approximately $26,000. 10Elms LLP bought a new position in RTX in the fourth quarter valued at approximately $29,000. Greenline Partners LLC bought a new position in RTX in the fourth quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC bought a new position in RTX in the fourth quarter valued at approximately $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in RTX in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on RTX shares. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America lifted their target price on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 target price on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Finally, Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

RTX Stock Performance

RTX traded down $0.65 during trading on Friday, hitting $156.92. The stock had a trading volume of 4,418,299 shares, compared to its average volume of 4,749,872. The company has a 50 day moving average price of $145.69 and a 200-day moving average price of $134.20. The firm has a market cap of $210.04 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 2.90 and a beta of 0.68. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. 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 (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio is presently 59.78%.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,234 shares of company stock valued at $4,439,755 over the last 90 days. 0.15% of the stock is currently owned by insiders.

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.