Meeder Advisory Services Inc. Acquires 1,748 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Meeder Advisory Services Inc. increased its stake in RTX Corporation by 7.0%, owning a total of 26,637 shares worth approximately $3.53 million.
• RTX reported earnings of $1.56 per share for the recent quarter, surpassing estimates, with a revenue of $21.58 billion, which was above the consensus estimate of $20.68 billion.
• The company declared a quarterly dividend of $0.68 per share, with an annualized yield of 1.74% and a payout ratio of 59.78%.

Meeder Advisory Services Inc. lifted its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,637 shares of the company's stock after purchasing an additional 1,748 shares during the quarter. Meeder Advisory Services Inc.'s holdings in RTX were worth $3,528,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Marvin & Palmer Associates Inc. acquired a new stake in RTX in the first quarter valued at about $2,985,000. Picton Mahoney Asset Management boosted its stake in RTX by 4,201.1% in the first quarter. Picton Mahoney Asset Management now owns 11,785 shares of the company's stock valued at $1,561,000 after buying an additional 11,511 shares in the last quarter. New Republic Capital LLC boosted its stake in RTX by 27.3% in the first quarter. New Republic Capital LLC now owns 3,826 shares of the company's stock valued at $507,000 after buying an additional 821 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in RTX by 35.1% in the first quarter. Foundations Investment Advisors LLC now owns 100,786 shares of the company's stock valued at $13,350,000 after buying an additional 26,168 shares in the last quarter. Finally, KFA Private Wealth Group LLC acquired a new stake in RTX in the first quarter valued at about $212,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the subject of several research reports. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Citigroup increased their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Six 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 has an average rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Down 0.3%

RTX stock traded down $0.51 during mid-day trading on Friday, reaching $157.07. The stock had a trading volume of 2,476,524 shares, compared to its average volume of 5,384,849. 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 Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock's 50-day simple moving average is $145.20 and its 200-day simple moving average is $133.94. The firm has a market capitalization of $210.24 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.92 and a beta of 0.64.

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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 payout ratio is 59.78%.

Insider Buying and Selling

In related news, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,234 shares of company stock worth $4,439,755 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

RTX Company 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.