Pallas Capital Advisors LLC Buys 19,266 Shares of RTX Corporation $RTX

Key Points

• Pallas Capital Advisors LLC significantly expanded its holdings in RTX Corporation by 450.6%, bringing their total shares to 23,542 valued at $3.44 million.
• RTX Corporation reported a quarterly earnings beat with $1.56 EPS against an estimate of $1.45, as revenues rose 9.4% year-over-year to $21.58 billion.
• The company declared a quarterly dividend of $0.68 per share, with a resulting annualized yield of 1.7% and a payout ratio of 59.78%.

Pallas Capital Advisors LLC boosted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 450.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,542 shares of the company's stock after purchasing an additional 19,266 shares during the period. Pallas Capital Advisors LLC's holdings in RTX were worth $3,438,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. TrueWealth Advisors LLC raised its position in shares of RTX by 3.6% in the 2nd quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock worth $293,000 after acquiring an additional 70 shares in the last quarter. RMR Wealth Builders raised its position in shares of RTX by 3.6% in the 2nd quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock worth $297,000 after acquiring an additional 70 shares in the last quarter. Hamilton Capital LLC raised its position in shares of RTX by 3.6% in the 1st quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after acquiring an additional 74 shares in the last quarter. Persium Advisors LLC raised its position in shares of RTX by 1.6% in the 2nd quarter. Persium Advisors LLC now owns 4,935 shares of the company's stock worth $721,000 after acquiring an additional 76 shares in the last quarter. Finally, ICW Investment Advisors LLC raised its position in shares of RTX by 0.6% in the 1st quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock worth $1,834,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the topic of several recent research reports. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Barclays upped their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Stock Up 0.0%

RTX traded up $0.03 during trading on Friday, hitting $158.22. 7,081,960 shares of the company's stock traded hands, compared to its average volume of 5,141,378. The company's 50 day simple moving average is $155.64 and its two-hundred day simple moving average is $141.33. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $161.26. The stock has a market capitalization of $211.78 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.92 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 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 business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the business posted $1.41 EPS. The company's revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio is presently 59.78%.

Insider Activity

In other news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the 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 transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. The trade was 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 56,635 shares of company stock worth $8,947,010. Insiders own 0.15% of the company's stock.

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.