Iron Gate Global Advisors LLC Has $21.01 Million Holdings in RTX Corporation $RTX

Key Points

• Iron Gate Global Advisors LLC reduced its stake in RTX Corporation by 2.2%, now holding approximately 158,637 shares valued at $21.01 million, making RTX the fund's 13th largest investment.
• RTX's recent earnings report showed earnings per share of $1.56, exceeding expectations, with a revenue of $21.58 billion, up 9.4% year-over-year.
• The firm announced a quarterly dividend of $0.68, reflecting an annualized yield of 1.8%, with a payout ratio of 59.78%.

Iron Gate Global Advisors LLC trimmed its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,637 shares of the company's stock after selling 3,587 shares during the period. RTX accounts for approximately 2.9% of Iron Gate Global Advisors LLC's investment portfolio, making the stock its 13th biggest position. Iron Gate Global Advisors LLC's holdings in RTX were worth $21,013,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in RTX during the first quarter worth $26,000. 10Elms LLP acquired a new position in RTX during the fourth quarter worth $29,000. Summit Securities Group LLC acquired a new position in RTX during the first quarter worth $40,000. Mpwm Advisory Solutions LLC acquired a new position in RTX during the fourth quarter worth $43,000. Finally, McClarren Financial Advisors Inc. acquired a new position in RTX during the first quarter worth $44,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Up 2.1%

Shares of RTX stock opened at $154.88 on Thursday. The firm has a 50-day moving average of $154.20 and a 200-day moving average of $140.15. The stock has a market cap of $207.32 billion, a PE ratio of 34.04, a PEG ratio of 2.80 and a beta of 0.67. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $161.26. 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 announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during 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%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous 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, sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. RTX's payout ratio is presently 59.78%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RTX shares. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Morgan Stanley lifted their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Sanford C. Bernstein lifted their price objective on shares of RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

Insider Buying and Selling

In other news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 25,968 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

About RTX

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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