Maridea Wealth Management LLC Makes New $637,000 Investment in RTX Corporation (NYSE:RTX)

Key Points

• Maridea Wealth Management LLC has acquired a new position in RTX Corporation, purchasing 4,811 shares valued at approximately $637,000.
• In the first quarter, several institutional investors increased their stakes in RTX, leading to an overall institutional ownership of 86.50% in the company.
• RTX recently declared a quarterly dividend of $0.68 per share, equating to a 1.73% dividend yield, with a payout ratio of 59.78%.

Maridea Wealth Management LLC bought a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,811 shares of the company's stock, valued at approximately $637,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in RTX during the first quarter worth $26,000. 10Elms LLP acquired a new stake in RTX during the fourth quarter worth $29,000. Greenline Partners LLC acquired a new stake in RTX during the fourth quarter worth $34,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of RTX in the fourth quarter valued at $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of RTX in the first quarter valued at $50,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Six research 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $158.67.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 16,538 shares in the company, 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. Insiders have sold a total of 31,234 shares of company stock worth $4,439,755 over the last three months. 0.15% of the stock is currently owned by company insiders.

RTX Stock Down 0.5%

NYSE RTX traded down $0.81 during trading on Thursday, reaching $157.59. 2,313,504 shares of the company's stock were exchanged, compared to its average volume of 5,387,045. The stock has a market cap of $210.94 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. 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 company has a 50 day moving average price of $144.73 and a two-hundred day moving average price of $133.67. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Corporation will post 6.11 EPS 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 dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.73%. RTX's dividend payout ratio (DPR) is currently 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.