Inspire Advisors LLC Takes Position in RTX Corporation (NYSE:RTX)

Key Points

• Inspire Advisors LLC has acquired a new position in RTX Corporation, purchasing 1,612 shares valued at approximately $214,000 in the first quarter.
• The company's stock is currently trading at $158.51, with a market cap of $212.17 billion and a PE ratio of 34.84.
• RTX recently announced a quarterly dividend of $0.68 per share, with an annualized dividend of $2.72 and a yield of 1.72%.

Inspire Advisors LLC bought a new stake in RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,612 shares of the company's stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC acquired a new position in shares of RTX in the 1st quarter valued at about $26,000. 10Elms LLP acquired a new position in shares of RTX in the 4th quarter valued at about $29,000. Greenline Partners LLC acquired a new position in RTX in the fourth quarter worth approximately $34,000. Mpwm Advisory Solutions LLC acquired a new position in RTX in the fourth quarter worth approximately $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in RTX in the first quarter worth approximately $50,000. Institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,234 shares of company stock worth $4,439,755. Company insiders own 0.15% of the company's stock.

RTX Trading Down 0.4%

Shares of RTX stock traded down $0.65 on Friday, hitting $156.92. The company had a trading volume of 4,418,299 shares, compared to its average volume of 5,398,623. The firm has a market cap of $210.04 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.92 and a beta of 0.64. The stock's 50-day moving average is $145.20 and its two-hundred day moving average is $133.94. 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 Corporation has a twelve month low of $112.27 and a twelve month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last released its 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price target (up previously 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 given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.