Modera Wealth Management LLC grew its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,012 shares of the company's stock after purchasing an additional 4,835 shares during the period. Modera Wealth Management LLC's holdings in RTX were worth $7,419,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bay Capital Advisors LLC bought a new stake in shares of RTX in the first quarter worth $224,000. Dynamic Advisor Solutions LLC increased its stake in shares of RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after buying an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC bought a new stake in shares of RTX in the first quarter worth $1,288,000. Deutsche Bank AG increased its stake in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares during the last quarter. Finally, LBP AM SA increased its stake in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after buying an additional 41,990 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.
RTX Stock Performance
Shares of RTX traded down $0.65 during midday trading on Friday, hitting $156.92. 4,418,299 shares of the stock traded hands, compared to its average volume of 4,749,872. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. The firm has a market capitalization of $210.04 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.90 and a beta of 0.68. 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 business's 50 day moving average price is $145.69 and its two-hundred day moving average price is $134.20.
RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during 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 quarter in the prior year, the company posted $1.41 earnings per share. Equities research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.
RTX Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is currently 59.78%.
Insider Activity at RTX
In related news, EVP Dantaya M. Williams sold 16,922 shares of the company'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 sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction dated 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 completion of the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,234 shares of company stock worth $4,439,755. 0.15% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on RTX shares. Citigroup lifted their price target on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price objective (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Bank of America lifted their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. 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 stock presently has an average rating of "Moderate Buy" and an average price target of $158.67.
Check Out Our Latest Research Report on RTX
RTX Profile
(
Free Report)
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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