Corient IA LLC Takes Position in RTX Corporation $RTX

Key Points

• Corient IA LLC acquired a new stake in RTX Corporation, purchasing 3,000 shares valued at approximately $397,000 during the first quarter.
• RTX recently announced a quarterly dividend of $0.68 per share, which equates to an annualized dividend of $2.72 and a yield of 1.8%.
• The company reported quarterly earnings of $1.56 per share, surpassing estimates and reflecting a 9.4% year-over-year revenue increase to $21.58 billion.

Corient IA LLC bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,000 shares of the company's stock, valued at approximately $397,000.

Several other institutional investors and hedge funds also recently made changes to their positions in 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 in the last quarter. Revolve Wealth Partners LLC boosted 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 in the last quarter. GeoWealth Management LLC boosted its stake in shares of RTX by 23.8% in the 4th quarter. GeoWealth Management LLC now owns 10,604 shares of the company's stock valued at $1,227,000 after purchasing an additional 2,037 shares in the last quarter. Freedom Investment Management Inc. boosted its stake in shares of RTX by 58.6% in the 4th quarter. Freedom Investment Management Inc. now owns 5,563 shares of the company's stock valued at $644,000 after purchasing an additional 2,055 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of RTX by 10.6% in the 4th quarter. First Trust Advisors LP now owns 601,957 shares of the company's stock valued at $69,658,000 after purchasing an additional 57,689 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $154.04 on Monday. The stock has a market capitalization of $206.19 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.84 and a beta of 0.69. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $149.54 and a two-hundred day moving average price of $136.53.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share 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 analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. Equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RTX shares. UBS Group lifted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a report on Friday, April 25th. Morgan Stanley lifted their price target on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Susquehanna lifted 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. Finally, Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, RTX has an average rating of "Moderate Buy" and an average price target of $158.67.

Insider Buying and Selling

In other news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider directly owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,589 shares of company stock worth $7,126,389 over the last quarter. Insiders own 0.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.