RTX Corporation $RTX Shares Bought by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its stake in RTX Corporation by 38.8% during the first quarter, now owning 39,034 shares worth approximately $5.17 million.
• RTX reported earnings of $1.56 per share for the latest quarter, exceeding analysts' expectations, with revenue reaching $21.58 billion.
• The company has a dividend yield of 1.8% after recently announcing a quarterly dividend of $0.68 per share, reflecting a payout ratio of 59.78%.

Belpointe Asset Management LLC boosted its position in RTX Corporation (NYSE:RTX - Free Report) by 38.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,034 shares of the company's stock after acquiring an additional 10,905 shares during the quarter. Belpointe Asset Management LLC's holdings in RTX were worth $5,170,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RTX. Vanguard Group Inc. lifted its position in shares of RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after buying an additional 104,139 shares during the last quarter. Invesco Ltd. lifted its position in shares of RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after buying an additional 154,544 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RTX by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock worth $1,021,623,000 after buying an additional 65,493 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of RTX by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 6,947,301 shares of the company's stock valued at $803,942,000 after acquiring an additional 35,794 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RTX. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a report on Monday, July 21st. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Bank of America lifted their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley lifted their target price on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Three equities research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.87.

Insiders Place Their Bets

In related news, insider Shane G. Eddy sold 25,968 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 7,654 shares of the business'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 completion of the sale, the insider owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by company insiders.

RTX Price Performance

Shares of NYSE:RTX traded down $1.75 on Friday, reaching $155.90. 3,194,158 shares of the company were exchanged, compared to its average volume of 3,647,609. 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 firm has a market cap of $208.68 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 2.91 and a beta of 0.67. The company has a 50-day moving average of $154.64 and a 200-day moving average of $140.58.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same period in the prior year, the company posted $1.41 EPS. The business'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. Equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $0.68 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's payout ratio is currently 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.