Howland Capital Management LLC Buys 6,335 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Howland Capital Management LLC increased its holdings in RTX Corporation by 44.5%, acquiring an additional 6,335 shares, bringing its total to 20,562 shares worth approximately $2.72 million.
• Insider trading revealed that VP Amy L. Johnson and VP Kevin G. Dasilva sold 4,146 and 8,704 shares respectively, indicating a decrease in their ownership stakes.
• RTX Corporation declared a quarterly dividend of $0.68 per share, yielding 1.7%, with a payout ratio of 59.78%, payable on September 4th to shareholders recorded on August 15th.

Howland Capital Management LLC grew its holdings in RTX Corporation (NYSE:RTX - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,562 shares of the company's stock after acquiring an additional 6,335 shares during the quarter. Howland Capital Management LLC's holdings in RTX were worth $2,724,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bay Capital Advisors LLC acquired a new stake in shares of RTX during the first quarter worth about $224,000. Dynamic Advisor Solutions LLC boosted its stake in shares of RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC acquired a new stake in shares of RTX in the first quarter worth approximately $1,288,000. Deutsche Bank AG boosted its stake in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares during the last quarter. Finally, LBP AM SA boosted its stake in RTX by 17.7% during the first quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after buying an additional 41,990 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,234 shares of company stock worth $4,439,755. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

NYSE RTX opened at $157.51 on Friday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. The company has a market capitalization of $210.83 billion, a P/E ratio of 34.62, a PEG ratio of 2.92 and a beta of 0.64. The business has a 50 day moving average price of $145.20 and a 200 day moving average price of $133.94. 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 released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal 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 given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is 59.78%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RTX. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Jefferies Financial Group restated a "hold" rating on shares of RTX in a report on Monday, July 21st. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

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.

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