Connecticut Wealth Management LLC Acquires 3,267 Shares of RTX Corporation $RTX

Key Points

• Connecticut Wealth Management LLC increased its stake in RTX Corporation by 1.6%, bringing its total holdings to 213,098 shares, valued at approximately $28.2 million.
• RTX reported strong quarterly earnings, with $1.56 earnings per share, exceeding estimates and a revenue of $21.58 billion, marking a 9.4% increase year-over-year.
• The company recently declared a quarterly dividend of $0.68, yielding 1.7%, to be paid on September 4th to shareholders of record.

Connecticut Wealth Management LLC raised its holdings in RTX Corporation (NYSE:RTX - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,098 shares of the company's stock after acquiring an additional 3,267 shares during the period. RTX comprises 1.5% of Connecticut Wealth Management LLC's holdings, making the stock its 16th biggest holding. Connecticut Wealth Management LLC's holdings in RTX were worth $28,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the first quarter worth about $26,000. 10Elms LLP bought a new stake in shares of RTX during the fourth quarter worth about $29,000. Greenline Partners LLC bought a new stake in shares of RTX during the fourth quarter worth about $34,000. Summit Securities Group LLC bought a new stake in shares of RTX during the first quarter worth about $40,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of RTX during the fourth quarter worth about $43,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX opened at $158.66 on Friday. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $161.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business's 50 day moving average price is $152.20 and its two-hundred day moving average price is $138.39. The firm has a market cap of $212.38 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 2.96 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

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

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,557 shares of company stock valued at $11,275,816. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on RTX. Susquehanna boosted their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Bank of America boosted their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Jefferies Financial Group restated a "hold" rating on shares of RTX in a report on Monday, July 21st. UBS Group upped their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 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. Based on data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

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.

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