RTX Corporation (NYSE:RTX) Shares Acquired by National Pension Service

Key Points

• The National Pension Service increased its stake in RTX Corporation by 8.1%, owning over 3 million shares valued at approximately $409 million by the end of the 1st quarter.
• RTX reported earnings of $1.56 per share for the last quarter, surpassing analyst expectations of $1.45 and marking a 9.4% increase in revenue year-over-year.
• The company is set to pay a quarterly dividend of $0.68 on September 4th, representing an annualized dividend yield of 1.7%.

National Pension Service lifted its stake in RTX Corporation (NYSE:RTX - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,091,510 shares of the company's stock after purchasing an additional 231,937 shares during the quarter. National Pension Service owned about 0.23% of RTX worth $409,501,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Bay Capital Advisors LLC purchased a new stake in shares of RTX in the first quarter worth approximately $224,000. Dynamic Advisor Solutions LLC boosted its stake in shares of RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares during the period. Brookwood Investment Group LLC bought a new stake in RTX during the 1st quarter valued at about $1,288,000. Deutsche Bank AG lifted its holdings in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares in the last quarter. Finally, LBP AM SA boosted its position in RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after buying an additional 41,990 shares during the period. Institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock worth $7,126,389 in the last three months. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Barclays lifted their price objective on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley increased 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. The Goldman Sachs Group raised their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Finally, Citigroup upped their price target on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Six research 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Down 0.3%

Shares of RTX traded down $0.46 during midday trading on Thursday, hitting $155.25. 2,766,508 shares of the company's stock traded hands, compared to its average volume of 5,066,212. 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 stock has a market capitalization of $207.81 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The firm's fifty day moving average is $149.25 and its 200-day moving average is $136.22.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's payout ratio is 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.