Ascent Group LLC Acquires 20,730 Shares of RTX Corporation $RTX

Key Points

• Ascent Group LLC increased its stake in RTX Corporation by 108.2%, acquiring an additional 20,730 shares, bringing their total holdings to 39,893 shares valued at approximately $5.28 million.
• RTX Corporation reported $1.56 earnings per share for the last quarter, exceeding analysts' expectations of $1.45, alongside a revenue of $21.58 billion, up 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, with an annualized total of $2.72 and a dividend yield of 1.7%.

Ascent Group LLC lifted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 108.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 39,893 shares of the company's stock after acquiring an additional 20,730 shares during the quarter. Ascent Group LLC's holdings in RTX were worth $5,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bay Capital Advisors LLC bought a new position in shares of RTX during the 1st quarter worth $224,000. Dynamic Advisor Solutions LLC grew its stake in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the period. Brookwood Investment Group LLC bought a new position in shares of RTX during the 1st quarter worth $1,288,000. LBP AM SA grew its stake in shares of RTX by 17.7% during the 1st 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 period. Finally, Arizona State Retirement System grew its stake in shares of RTX by 1.4% during the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company's stock worth $51,741,000 after acquiring an additional 5,356 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX opened at $157.67 on Monday. The stock has a market cap of $211.04 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.90 and a beta of 0.67. 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 1-year low of $112.27 and a 1-year high of $161.26. The stock's 50-day moving average is $153.69 and its 200 day moving average is $139.75.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share 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 analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Philip J. Jasper sold 12,847 shares of the firm'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 approximately $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 in the last quarter. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RTX shares. JPMorgan Chase & Co. increased their price objective on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. UBS Group increased their price objective on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $158.67.

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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