Berger Financial Group Inc Makes New Investment in RTX Corporation (NYSE:RTX)

Key Points

• Berger Financial Group Inc has established a new stake in RTX Corporation, acquiring 1,682 shares valued at approximately $223,000 in the first quarter.
• RTX reported a significant quarterly earnings of $1.56 per share, beating estimates, with a revenue of $21.58 billion, up 9.4% year-over-year.
• The company has announced a quarterly dividend of $0.68, equating to an annualized dividend yield of 1.8%, and a payout ratio of 59.78%.

Berger Financial Group Inc bought a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,682 shares of the company's stock, valued at approximately $223,000.

Several other institutional investors have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the 1st quarter valued at $26,000. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter valued at $29,000. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter valued at $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX during the 4th quarter valued at $43,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of RTX during the 1st quarter worth $44,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RTX shares. Royal Bank Of Canada reissued 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. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Barclays boosted their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and an average price target of $158.67.

RTX Trading Down 0.3%

Shares of RTX stock traded down $0.46 on Thursday, hitting $155.25. The company had a trading volume of 2,762,011 shares, compared to its average volume of 5,311,534. The firm has a market cap of $207.81 billion, a P/E ratio of 34.12, a P/E/G ratio of 2.86 and a beta of 0.69. The stock's 50-day moving average is $148.92 and its two-hundred day moving average is $136.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during 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%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's payout ratio is 59.78%.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 7,654 shares of the company'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 sale, the insider owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president owned 13,184 shares in the company, 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 have sold 47,589 shares of company stock worth $7,126,389 over the last quarter. 0.15% of the stock is owned by company insiders.

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.