Lee Financial Co Purchases Shares of 8,244 RTX Corporation $RTX

Key Points

• Lee Financial Co acquired 8,244 shares of RTX Corporation, valued at approximately $1,092,000, indicating increased institutional interest in the company.
• Recent analyst updates show a positive outlook for RTX, with JPMorgan and Morgan Stanley raising their price targets to $175.00 and $180.00 respectively, reflecting growing confidence in the stock.
• RTX announced a quarterly dividend of $0.68 per share, which equates to an annualized dividend yield of 1.8%, showcasing their commitment to returning value to shareholders.

Lee Financial Co acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,244 shares of the company's stock, valued at approximately $1,092,000.

Several other hedge funds have also recently made changes to their positions in the company. Sand Hill Global Advisors LLC lifted its position in RTX by 13.4% during the 1st quarter. Sand Hill Global Advisors LLC now owns 3,588 shares of the company's stock worth $475,000 after acquiring an additional 423 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in shares of RTX in the first quarter worth about $219,000. Granite Harbor Advisors Inc. acquired a new stake in shares of RTX during the first quarter worth about $235,000. Summit Securities Group LLC purchased a new stake in RTX in the first quarter valued at approximately $40,000. Finally, Freestone Capital Holdings LLC increased its holdings in RTX by 2.3% in the 1st quarter. Freestone Capital Holdings LLC now owns 62,352 shares of the company's stock worth $8,259,000 after buying an additional 1,386 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of RTX 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 sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the company's 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. The trade was a 31.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,589 shares of company stock valued at $7,126,389. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on RTX shares. JPMorgan Chase & Co. lifted 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. Morgan Stanley raised their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. The Goldman Sachs Group increased their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Performance

NYSE:RTX opened at $154.04 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a market capitalization of $206.19 billion, a PE ratio of 33.85, a P/E/G ratio of 2.84 and a beta of 0.69. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a fifty day moving average of $149.54 and a two-hundred day moving average of $136.53.

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 analysts' consensus estimates of $1.45 by $0.11. The business 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%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced 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 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

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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