IFP Advisors Inc grew its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,229 shares of the company's stock after purchasing an additional 4,206 shares during the quarter. IFP Advisors Inc's holdings in RTX were worth $6,839,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of RTX during the fourth quarter valued at approximately $1,745,644,000. GAMMA Investing LLC grew 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 in the last quarter. T. Rowe Price Investment Management Inc. grew 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 in the last quarter. Invesco Ltd. grew its holdings in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after acquiring an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently issued reports on RTX. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Susquehanna lifted 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. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 target price (up from $165.00) on shares of RTX in a report on Wednesday. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.50.
Get Our Latest Stock Report on RTX
RTX Stock Up 4.1%
Shares of NYSE:RTX traded up $6.05 during trading on Wednesday, hitting $155.22. The company's stock had a trading volume of 3,967,828 shares, compared to its average volume of 5,408,836. The stock's 50-day moving average price is $141.35 and its two-hundred day moving average price is $131.70. RTX Corporation has a fifty-two week low of $104.02 and a fifty-two week high of $155.36. The company has a market capitalization of $207.37 billion, a PE ratio of 45.52, a PEG ratio of 2.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.
RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current year.
RTX Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.75%. RTX's dividend payout ratio is currently 79.77%.
Insider Activity
In related news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $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. Company insiders own 0.15% of the company's stock.
RTX Company Profile
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Free Report)
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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