Horizon Investments LLC Increases Holdings in RTX Corporation $RTX

Key Points

• Horizon Investments LLC increased its stake in RTX Corporation by 5.1% after acquiring an additional 2,228 shares, bringing its total holdings to 45,839 shares valued at $6.07 million.
• RTX has received several analyst upgrades, with new price targets ranging from $129.00 to $175.00, indicating a consensus rating of "Moderate Buy".
• The company reported quarterly earnings of $1.56 per share, exceeding analyst expectations, and announced a dividend payment of $0.68 per share scheduled for September 4th.

Horizon Investments LLC increased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,839 shares of the company's stock after acquiring an additional 2,228 shares during the quarter. Horizon Investments LLC's holdings in RTX were worth $6,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Nuveen LLC purchased a new stake in RTX during the 1st quarter valued at about $916,739,000. GAMMA Investing LLC boosted its holdings in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of NYSE:RTX traded down $1.04 during midday trading on Friday, reaching $154.04. 4,593,662 shares of the company were exchanged, compared to its average volume of 4,921,509. The stock has a market cap of $206.19 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69. The business's fifty day moving average is $149.54 and its two-hundred day moving average is $136.53. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. 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 (NYSE:RTX - Get Free Report) last announced its quarterly 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 business had revenue of $21.58 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. As a group, analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. 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 note on Wednesday, July 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. UBS Group increased their price objective 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. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. 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 stock currently has an average rating of "Moderate Buy" and an average price target of $158.67.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the sale, the insider owned 16,442 shares in the company, valued at $2,551,798.40. The trade was a 31.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is owned by corporate insiders.

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.