Cetera Investment Advisers Invests $49.82 Million in RTX Corporation (NYSE:RTX)

Key Points

• Cetera Investment Advisers has made a new investment in RTX Corporation, purchasing approximately 376,075 shares worth about $49.82 million during the first quarter.
• RTX reported a quarterly earnings per share (EPS) of $1.56, surpassing estimates of $1.45, and achieved a year-over-year revenue increase of 9.4% to $21.58 billion.
• The company declared a quarterly dividend of $0.68 per share, with a dividend yield of 1.73% and a payout ratio of approximately 59.78%.

Cetera Investment Advisers bought a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 376,075 shares of the company's stock, valued at approximately $49,815,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. Brookwood Investment Group LLC acquired a new position in shares of RTX during the first quarter valued at approximately $1,288,000. Atria Investments Inc acquired a new position in shares of RTX during the 1st quarter valued at $12,073,000. Princeton Capital Management LLC lifted its holdings in shares of RTX by 650.9% in the first quarter. Princeton Capital Management LLC now owns 18,862 shares of the company's stock valued at $2,498,000 after buying an additional 16,350 shares during the period. Davis Rea LTD. acquired a new stake in shares of RTX in the first quarter valued at $4,582,000. Finally, One Wealth Advisors LLC bought a new position in RTX during the first quarter valued at about $950,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 0.2%

RTX stock traded up $0.37 during trading hours on Wednesday, hitting $157.49. The company had a trading volume of 728,474 shares, compared to its average volume of 5,386,051. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm has a market capitalization of $210.81 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. The firm's fifty day moving average is $144.25 and its 200-day moving average is $133.50.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's dividend payout ratio is 59.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America upped their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Susquehanna upped their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. UBS Group increased their price objective on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,234 shares of company stock worth $4,439,755. 0.15% of the stock is owned by corporate 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.