Great Lakes Advisors LLC Buys 30,546 Shares of RTX Corporation $RTX

Key Points

• Great Lakes Advisors LLC increased its stake in RTX Corporation by 3.0%, now holding over 1 million shares valued at approximately $138.3 million, making it the firm's 15th largest position.
• RTX Corporation reported earnings of $1.56 per share for the quarter, surpassing analysts' estimates, with revenue of $21.58 billion, a 9.4% increase year-over-year.
• The company declared a quarterly dividend of $0.68, resulting in an annualized rate of $2.72 and a yield of 1.7%, with a payout ratio of 59.78%.

Great Lakes Advisors LLC raised its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,046,427 shares of the company's stock after purchasing an additional 30,546 shares during the period. RTX makes up about 1.2% of Great Lakes Advisors LLC's investment portfolio, making the stock its 15th largest holding. Great Lakes Advisors LLC owned 0.08% of RTX worth $138,273,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in RTX during the 1st quarter valued at $26,000. 10Elms LLP purchased a new stake in RTX during the 4th quarter valued at $29,000. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter valued at $34,000. Summit Securities Group LLC purchased a new position in shares of RTX in the 1st quarter worth $40,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of RTX in the fourth quarter worth $43,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX traded up $2.79 during trading hours on Thursday, reaching $157.79. 4,288,758 shares of the stock traded hands, compared to its average volume of 5,155,571. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $161.26. The company's 50-day moving average price is $154.20 and its two-hundred day moving average price is $140.15. The company has a market cap of $211.21 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last released 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 company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the previous year, the company earned $1.41 EPS. RTX'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. On average, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced 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. The ex-dividend date was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's payout ratio is 59.78%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RTX shares. Morgan Stanley increased their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Bank of America increased their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays boosted their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Susquehanna increased their price target 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. Finally, Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of RTX 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 approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares in the company, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 in the last 90 days. Company insiders own 0.15% of the company's stock.

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.