Commonwealth Equity Services LLC Purchases 48,036 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Commonwealth Equity Services LLC increased its stake in RTX Corporation by 4.8%, owning 1,054,495 shares valued at approximately $139.7 million after acquiring an additional 48,036 shares in the first quarter.
• RTX recently announced a quarterly dividend of $0.68 per share, with an annualized yield of 1.7% and a payout ratio of 59.78%.
• Analysts maintain a favorable outlook on RTX, with an average rating of "Moderate Buy" and a price target of $158.67, indicating continued growth potential for the company.

Commonwealth Equity Services LLC boosted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,495 shares of the company's stock after purchasing an additional 48,036 shares during the period. Commonwealth Equity Services LLC owned 0.08% of RTX worth $139,678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RTX. Brighton Jones LLC boosted its stake in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares during the period. Trexquant Investment LP boosted its position in shares of RTX by 43.5% in the 4th quarter. Trexquant Investment LP now owns 47,774 shares of the company's stock worth $5,528,000 after purchasing an additional 14,472 shares during the last quarter. Arete Wealth Advisors LLC grew its stake in shares of RTX by 69.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 9,764 shares of the company's stock worth $1,129,000 after purchasing an additional 3,999 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in RTX by 31.1% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,384 shares of the company's stock valued at $276,000 after purchasing an additional 565 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,234 shares of company stock valued at $4,439,755 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

RTX Trading Down 0.4%

Shares of NYSE:RTX opened at $156.92 on Friday. The stock has a market capitalization of $210.04 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.89 and a beta of 0.68. The company's 50-day moving average price is $145.69 and its two-hundred day moving average price is $134.31. 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 one year low of $112.27 and a one year 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 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. On average, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's payout ratio is 59.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RTX shares. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Citigroup increased their target price on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $158.67.

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.

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