HB Wealth Management LLC Has $21.65 Million Stock Position in RTX Corporation (NYSE:RTX)

Key Points

• HB Wealth Management LLC increased its holdings in RTX Corporation by 13.7%, acquiring an additional 19,638 shares, bringing its total ownership to 163,443 shares valued at approximately $21.65 million.
• Several brokerages have raised their target prices for RTX, with Goldman Sachs increasing its price objective from $114 to $126 and UBS Group raising it from $166 to $177, indicating a positive outlook on the stock.
• RTX recently announced a quarterly dividend of $0.68, yielding 1.73%, with a payout ratio of 59.78% for shareholders recorded by August 15.

HB Wealth Management LLC raised its stake in RTX Corporation (NYSE:RTX - Free Report) by 13.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,443 shares of the company's stock after purchasing an additional 19,638 shares during the period. HB Wealth Management LLC's holdings in RTX were worth $21,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC bought a new position in shares of RTX during the 1st quarter worth approximately $26,000. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter worth $29,000. Greenline Partners LLC acquired a new stake in shares of RTX during the fourth quarter valued at about $34,000. Mpwm Advisory Solutions LLC bought a new stake in RTX during the 4th quarter worth approximately $43,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter valued at $45,000. 86.50% of the stock is owned by institutional investors.

Insider Activity at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction on 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 sale, the vice president owned 30,004 shares in the company, valued at $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 is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,234 shares of company stock worth $4,439,755. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup lifted their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Finally, Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus target price of $155.69.

RTX Price Performance

Shares of NYSE:RTX traded down $0.82 on Monday, reaching $156.06. 4,022,106 shares of the company traded hands, compared to its average volume of 4,686,952. The company's 50 day moving average is $143.86 and its 200-day moving average is $133.33. The stock has a market capitalization of $208.89 billion, a PE ratio of 26.06, a P/E/G ratio of 2.89 and a beta of 0.64. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $157.33. 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 earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 1.74%. RTX's dividend payout ratio (DPR) is presently 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.