RTX Corporation (NYSE:RTX) Stock Holdings Lifted by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in RTX Corporation by 93.1% during the first quarter, owning 24,540 shares valued at approximately $3.25 million.
• Analysts have set new price targets for RTX, with Bank of America raising its target from $150.00 to $175.00 and maintaining a "buy" rating.
• RTX announced a quarterly dividend of $0.68, scheduled to be paid on September 4th, representing a yield of 1.72% based on an annualized payout of $2.72.

Geneos Wealth Management Inc. raised its holdings in RTX Corporation (NYSE:RTX - Free Report) by 93.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,540 shares of the company's stock after purchasing an additional 11,829 shares during the period. Geneos Wealth Management Inc.'s holdings in RTX were worth $3,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of RTX. Guardian Wealth Advisors LLC NC increased its position in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its position in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares during the last quarter. Weatherly Asset Management L. P. increased its position in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after purchasing an additional 82 shares during the last quarter. CLG LLC increased its position in RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC increased its position in RTX by 3.3% during the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Down 0.4%

RTX traded down $0.65 during trading hours on Friday, reaching $156.92. 4,418,299 shares of the stock traded hands, compared to its average volume of 4,749,872. The firm's fifty day simple moving average is $145.69 and its two-hundred day simple moving average is $134.20. The company has a market cap of $210.04 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.90 and a beta of 0.68. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last posted 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm 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 firm posted $1.41 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Activity at RTX

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction 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. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Bank of America upped their price target on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Susquehanna increased their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research report on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Company 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.