IronOak Wealth LLC. Invests $422,000 in RTX Corporation $RTX

Key Points

• IronOak Wealth LLC invested approximately $422,000 in RTX Corporation by acquiring 2,891 shares during the second quarter.
• RTX reported a 9.4% year-over-year increase in revenue for the last quarter, totaling $21.58 billion, and exceeded analysts' EPS estimates.
• Analysts have given RTX an average rating of "Moderate Buy" with a target price of $158.87, indicating positive sentiment towards the stock's future performance.

IronOak Wealth LLC. acquired a new position in RTX Corporation (NYSE:RTX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,891 shares of the company's stock, valued at approximately $422,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after purchasing an additional 104,139 shares in the last quarter. Invesco Ltd. raised its stake in RTX by 1.5% in the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock valued at $1,365,969,000 after purchasing an additional 154,544 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in RTX by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock valued at $1,021,623,000 after purchasing an additional 65,493 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of RTX during the 1st quarter worth about $916,739,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup increased their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Sanford C. Bernstein lifted their price objective on RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $158.87.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. 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 three months. 0.15% of the stock is currently owned by company insiders.

RTX Stock Up 0.8%

RTX stock traded up $1.34 during midday trading on Monday, hitting $159.58. 3,294,972 shares of the company were exchanged, compared to its average volume of 3,943,100. The company has a market cap of $213.60 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26. The company's fifty day moving average price is $156.07 and its 200-day moving average price is $141.92. 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 posted its quarterly earnings data 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 for 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%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

RTX 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.