Liberty Wealth Management LLC Increases Position in RTX Corporation (NYSE:RTX)

Key Points

• Liberty Wealth Management LLC significantly increased its position in RTX Corporation by 798.6% in Q1, acquiring a total of 32,152 shares valued at approximately $4.26 million.
• Insider transactions revealed that VP Amy L. Johnson and EVP Ramsaran Maharajh sold shares, resulting in a decrease of 30.28% and 9.98% in their ownership positions, respectively.
• RTX Corporation reported earnings of $1.56 per share for the most recent quarter, surpassing analysts' expectations and achieving a revenue of $21.58 billion.

Liberty Wealth Management LLC grew its position in RTX Corporation (NYSE:RTX - Free Report) by 798.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,152 shares of the company's stock after buying an additional 28,574 shares during the period. Liberty Wealth Management LLC's holdings in RTX were worth $4,259,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in shares of RTX in the 4th quarter valued at approximately $29,000. Greenline Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of RTX in the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The stock was 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 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. In the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is owned by insiders.

RTX Trading Down 0.4%

Shares of NYSE:RTX opened at $156.92 on Friday. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The company's 50 day moving average is $145.69 and its two-hundred day moving average is $134.31. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $210.04 billion, a PE ratio of 34.49, a P/E/G ratio of 2.89 and a beta of 0.68.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. Equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RTX. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research note on Monday, July 21st. Wells Fargo & Company upped their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Citigroup upped their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.67.

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.

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