RTX Corporation $RTX Shares Bought by Centric Wealth Management

Key Points

• Centric Wealth Management increased its stake in RTX Corporation by 25.9%, purchasing an additional 4,073 shares, bringing its total holdings to 19,826 shares valued at approximately $2.626 million.
• Several institutional investors, including Connecticut Wealth Management and Activest Wealth Management, have also recently adjusted their positions in RTX, indicating strong interest in the stock.
• RTX announced a quarterly dividend of $0.68 per share, with a 1.7% yield, showing its commitment to returning value to shareholders.

Centric Wealth Management grew its position in RTX Corporation (NYSE:RTX - Free Report) by 25.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,826 shares of the company's stock after purchasing an additional 4,073 shares during the quarter. Centric Wealth Management's holdings in RTX were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. MorganRosel Wealth Management LLC purchased a new stake in RTX in the 1st quarter worth $26,000. 10Elms LLP purchased a new stake in RTX in the 4th quarter worth $29,000. Greenline Partners LLC purchased a new stake in RTX in the 4th quarter worth $34,000. Summit Securities Group LLC purchased a new stake in RTX in the 1st quarter worth $40,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in RTX in the 4th quarter worth $43,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Down 0.4%

Shares of RTX stock traded down $0.69 during trading on Tuesday, hitting $157.91. The stock had a trading volume of 3,259,056 shares, compared to its average volume of 3,604,400. The firm's fifty day simple moving average is $152.45 and its 200-day simple moving average is $138.81. The stock has a market cap of $211.37 billion, a PE ratio of 26.35, a PEG ratio of 2.92 and a beta of 0.67. 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 Corporation has a 12 month low of $112.27 and a 12 month high of $161.26.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Citigroup boosted 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. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Morgan Stanley increased their price objective on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. 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. Based on data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 25,968 shares of the firm'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 filing with the SEC, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock worth $8,947,010 over the last ninety days. 0.15% of the stock is owned by 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.