Assetmark Inc. Increases Position in RTX Corporation (NYSE:RTX)

Key Points

• Assetmark Inc. increased its stake in RTX Corporation by **6.0%**, acquiring an additional **10,223 shares**, bringing its total holdings to **181,326 shares** valued at **$24 million**.
• Several institutional investors, including **Geode Capital Management** and **T. Rowe Price**, have also significantly increased their positions in RTX, resulting in approximately **86.50%** of the stock being held by institutional investors.
• RTX Corporation reported **$1.56 EPS** for the last quarter, surpassing estimates, alongside a **9.4%** year-over-year revenue growth, amounting to **$21.58 billion**.

Assetmark Inc. boosted its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,326 shares of the company's stock after buying an additional 10,223 shares during the quarter. Assetmark Inc.'s holdings in RTX were worth $24,018,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC purchased a new position in shares of RTX in the first quarter valued at approximately $26,000. 10Elms LLP purchased a new position in shares of RTX in the fourth quarter valued at approximately $29,000. Greenline Partners LLC purchased a new position in shares of RTX in the fourth quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC purchased a new position in shares of RTX in the fourth quarter valued at approximately $43,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of RTX in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on RTX shares. Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Susquehanna lifted their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday. Morgan Stanley lifted their price target on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Citigroup lifted their price target on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.69.

RTX Stock Performance

RTX stock traded up $1.64 on Friday, hitting $156.86. The company's stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,686,952. The firm has a 50 day moving average of $143.48 and a two-hundred day moving average of $133.04. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $157.33. The stock has a market cap of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. 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 (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $1.41 EPS. RTX's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.73%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $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 a total of 22,530 shares of company stock worth $3,080,191 in the last 90 days. 0.15% of the stock is owned by insiders.

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.