Fiduciary Family Office LLC Purchases Shares of 8,434 RTX Corporation (NYSE:RTX)

Key Points

• Fiduciary Family Office LLC has invested $1.12 million in RTX Corporation, acquiring 8,434 shares of its stock in the first quarter.
• RTX recently reported a quarterly earnings per share of $1.56, exceeding analysts' estimates, with revenue up 9.4% year-over-year to $21.58 billion.
• The company declared a quarterly dividend of $0.68, translating to a 1.8% dividend yield for shareholders, with a payout ratio of 59.78%.

Fiduciary Family Office LLC purchased a new position in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,434 shares of the company's stock, valued at approximately $1,117,000.

Several other institutional investors have also added to or reduced their stakes in the business. MorganRosel Wealth Management LLC acquired a new position in RTX in the first quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in RTX in the 4th quarter valued at $29,000. Greenline Partners LLC purchased a new stake in RTX in the 4th quarter valued at $34,000. McClarren Financial Advisors Inc. purchased a new stake in RTX in the 1st quarter valued at $44,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of RTX in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,935 shares of company stock worth $5,938,488 in the last three months. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RTX shares. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Barclays increased their price objective on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a "market perform" rating in a report on Friday, July 11th. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Six equities 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Price Performance

RTX stock traded down $0.02 during midday trading on Monday, hitting $154.84. 3,572,241 shares of the stock were exchanged, compared to its average volume of 5,106,436. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock has a market cap of $207.25 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.85 and a beta of 0.69. The stock's 50-day moving average price is $148.22 and its 200-day moving average price is $135.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Research analysts predict 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. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

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.