Fortis Capital Advisors LLC Invests $945,000 in RTX Corporation $RTX

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in RTX Corporation, purchasing 7,138 shares valued at approximately $945,000 in the first quarter.
• Institutional investors hold about 86.50% of RTX's stock, with several firms, including MorganRosel Wealth Management LLC, acquiring shares in the recent quarters.
• RTX announced a quarterly $0.68 dividend and reported earnings of $1.56 per share for the last quarter, exceeding consensus estimates and reflecting a year-over-year revenue growth of 9.4%.

Fortis Capital Advisors LLC acquired a new stake in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 7,138 shares of the company's stock, valued at approximately $945,000.

A number of other institutional investors also recently modified their holdings of RTX. Nuveen LLC acquired a new position in shares of RTX during the 1st quarter worth $916,739,000. GAMMA Investing LLC grew its position in RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. Goldman Sachs Group Inc. grew its position in RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. grew its position in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of RTX by 1,178.2% in the 1st quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock valued at $160,588,000 after buying an additional 1,117,506 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RTX shares. Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research note on Monday, July 21st. Citigroup increased their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.87.

Insider Buying and Selling at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the company'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 disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock worth $8,947,010 in the last quarter. Company insiders own 0.15% of the company's stock.

RTX Stock Down 1.1%

RTX stock traded down $1.75 during trading on Friday, reaching $155.90. 3,194,158 shares of the stock were exchanged, compared to its average volume of 3,647,609. The firm's 50 day moving average is $154.64 and its 200 day moving average is $140.58. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26. 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 firm has a market cap of $208.68 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 2.91 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping 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 business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio is 59.78%.

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.