Granite Harbor Advisors Inc. Purchases Shares of 1,775 RTX Corporation $RTX

Key Points

• Granite Harbor Advisors Inc. acquired 1,775 shares of RTX Corporation for about $235,000, marking a new investment position as reported in their 13F filing.
• The quarterly dividend announced by RTX will be $0.68 per share, with a dividend yield of 1.8%, and will be paid on September 4th.
• RTX's latest earnings report showed EPS of $1.56, beating estimates, and a revenue increase of 9.4% year-over-year, highlighting strong financial performance.

Granite Harbor Advisors Inc. bought a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,775 shares of the company's stock, valued at approximately $235,000.

A number of other institutional investors have also added to or reduced their stakes in RTX. Summit Securities Group LLC bought a new position in shares of RTX in the first quarter worth approximately $40,000. Freestone Capital Holdings LLC increased its stake in RTX by 2.3% in the first quarter. Freestone Capital Holdings LLC now owns 62,352 shares of the company's stock valued at $8,259,000 after acquiring an additional 1,386 shares during the last quarter. Spreng Capital Management Inc. bought a new stake in RTX during the first quarter worth about $226,000. Affinity Investment Advisors LLC increased its position in shares of RTX by 96.5% during the 1st quarter. Affinity Investment Advisors LLC now owns 7,270 shares of the company's stock valued at $963,000 after purchasing an additional 3,570 shares during the last quarter. Finally, Corient IA LLC bought a new stake in RTX in the 1st quarter worth approximately $397,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Down 0.7%

RTX stock opened at $154.04 on Monday. 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 Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. 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. The business has a fifty day moving average price of $149.54 and a 200-day moving average price of $136.53.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results 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 net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the business earned $1.41 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on 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 sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Susquehanna boosted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup raised their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

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.

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