Dimensional Fund Advisors LP Boosts Stock Position in RTX Corporation $RTX

Key Points

• Dimensional Fund Advisors LP raised its stake in RTX Corporation by 0.9%, now owning 7.7 million shares valued at over $1 billion, indicating strong institutional interest in the firm.
• RTX reported earnings per share of $1.56 for the last quarter, surpassing analyst estimates and showcasing a 9.4% revenue increase year-over-year.
• The company is set to pay a quarterly dividend of $0.68 per share on September 4th, reflecting a 1.8% annual yield and a payout ratio of 59.78%.

Dimensional Fund Advisors LP increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,713,131 shares of the company's stock after purchasing an additional 65,493 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.58% of RTX worth $1,021,623,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Bay Capital Advisors LLC bought a new position in shares of RTX in the first quarter valued at about $224,000. Dynamic Advisor Solutions LLC raised its holdings in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after purchasing an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC bought a new position in RTX during the 1st quarter worth approximately $1,288,000. Deutsche Bank AG increased its stake in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Finally, LBP AM SA increased its stake in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after acquiring an additional 41,990 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on RTX shares. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research report on Monday, July 21st. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Susquehanna boosted their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Price Performance

RTX traded down $1.04 during midday trading on Friday, hitting $154.04. The stock had a trading volume of 4,593,662 shares, compared to its average volume of 4,921,509. The company has a market cap of $206.19 billion, a P/E ratio of 33.85, a price-to-earnings-growth 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 debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business has a fifty day moving average of $149.54 and a 200 day moving average of $136.53.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock valued at $7,126,389 in the last 90 days. Corporate 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.