IFM Investors Pty Ltd Purchases 9,603 Shares of RTX Corporation $RTX

Key Points

• IFM Investors Pty Ltd increased its stake in RTX Corporation by 8.6% to own 121,294 shares, valued at $17.71 million.
• Analysts have raised their price targets for RTX, with UBS Group setting a new target of $177.00 and Citigroup increasing theirs to $182.00, indicating a positive outlook for the stock.
• RTX recently announced a quarterly dividend of $0.68, reflecting a 1.7% yield and a payout ratio of 59.78%.

IFM Investors Pty Ltd lifted its stake in RTX Corporation (NYSE:RTX - Free Report) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,294 shares of the company's stock after buying an additional 9,603 shares during the period. IFM Investors Pty Ltd's holdings in RTX were worth $17,711,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RTX. Brighton Jones LLC lifted its stake in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC raised its position in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after purchasing an additional 159 shares in the last quarter. Two Sigma Advisers LP acquired a new position in RTX in the fourth quarter worth about $1,921,000. PharVision Advisers LLC acquired a new position in RTX in the fourth quarter worth about $218,000. Finally, Continuum Advisory LLC raised its position in RTX by 8.8% in the fourth quarter. Continuum Advisory LLC now owns 1,847 shares of the company's stock worth $214,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX stock traded up $0.03 during midday trading on Friday, reaching $158.22. The company had a trading volume of 7,081,960 shares, compared to its average volume of 3,801,553. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $211.78 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The stock has a fifty day simple moving average of $155.86 and a 200 day simple moving average of $141.61. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $161.26.

RTX (NYSE:RTX - Get Free Report) last issued 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. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 59.78%.

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total transaction of $4,149,426.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RTX. Citigroup increased their price target on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. 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. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Morgan Stanley raised their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Three 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $158.87.

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.