N.E.W. Advisory Services LLC Increases Holdings in RTX Corporation (NYSE:RTX)

Key Points

• N.E.W. Advisory Services LLC increased its holdings in RTX Corporation by 46.8% during the 1st quarter, owning 5,707 shares valued at $756,000 by the end of the period.
• Analysts have recently raised their target prices for RTX, with Bank of America setting a target of $175.00 and Citigroup increasing theirs to $182.00, reflecting a consensus rating of "Moderate Buy."
• RTX plans to pay a quarterly dividend of $0.68 on September 4th, indicating a dividend yield of 1.74% and a payout ratio of approximately 59.78%.

N.E.W. Advisory Services LLC grew its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 46.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,707 shares of the company's stock after acquiring an additional 1,819 shares during the quarter. N.E.W. Advisory Services LLC's holdings in RTX were worth $756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Guardian Wealth Advisors LLC NC increased its position in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after purchasing an additional 82 shares during the period. Foster Victor Wealth Advisors LLC increased its position in RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after purchasing an additional 82 shares during the period. Weatherly Asset Management L. P. increased its position in RTX by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after purchasing an additional 82 shares during the period. CLG LLC increased its position in RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after purchasing an additional 83 shares during the period. Finally, 49 Wealth Management LLC increased its position in RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling

In other 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 transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale 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 firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,234 shares of company stock valued at $4,439,755 in the last 90 days. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group increased their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a report on Friday, April 25th. Finally, Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Six 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Stock Down 0.4%

Shares of RTX traded down $0.59 during trading hours on Friday, reaching $156.98. The stock had a trading volume of 2,638,671 shares, compared to its average volume of 5,385,728. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79. The firm has a 50-day simple moving average of $145.20 and a 200 day simple moving average of $133.94. 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 capitalization of $210.12 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 2.92 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share 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 business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the business earned $1.41 EPS. The business's revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio (DPR) is presently 59.78%.

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.