HighTower Advisors LLC Purchases 303,079 Shares of RTX Corporation (NYSE:RTX)

Key Points

• HighTower Advisors LLC increased its shareholding in RTX Corporation by 15.4% during the first quarter, acquiring an additional 303,079 shares for a total of approximately $300.5 million in value.
• Analysts have generally rated RTX positively, with price targets raised significantly; for instance, JPMorgan Chase increased its target from $145 to $175, indicating strong market confidence.
• RTX announced a quarterly dividend of $0.68 per share, yielding 1.8%, which will be paid on September 4th, suggesting a stable return for shareholders amid a robust earnings report.

HighTower Advisors LLC lifted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 15.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,268,666 shares of the company's stock after acquiring an additional 303,079 shares during the quarter. HighTower Advisors LLC owned approximately 0.17% of RTX worth $300,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new stake in RTX in the first quarter valued at about $916,739,000. GAMMA Investing LLC increased its holdings in shares of RTX by 14,838.5% in the first 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of RTX by 28.0% in the first 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the first 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 in the last quarter. Institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Morgan Stanley increased their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Six 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's stock. According to MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Down 0.0%

RTX stock opened at $154.84 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $148.22 and a two-hundred day moving average price of $135.73. The company has a market cap of $207.25 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.85 and a beta of 0.69. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79.

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, beating 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 firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the company earned $1.41 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

Insiders Place Their Bets

In other news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred 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 transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents 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 39,935 shares of company stock valued at $5,938,488. 0.15% of the stock is owned by insiders.

About RTX

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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