Premier Fund Managers Ltd Takes $8.10 Million Position in RTX Corporation (NYSE:RTX)

Key Points

• Premier Fund Managers Ltd has invested approximately $8.10 million in RTX Corporation, acquiring 61,500 shares during the first quarter.
• RTX Corporation reported earnings of $1.56 per share for the last quarter, exceeding analysts' expectations, with revenue also exceeding forecasts at $21.58 billion.
• The firm announced a quarterly dividend of $0.68 per share, with an annualized dividend yield of 1.74%.

Premier Fund Managers Ltd acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,500 shares of the company's stock, valued at approximately $8,102,000.

A number of other large investors also recently modified their holdings of RTX. Geode Capital Management LLC raised its holdings in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Franklin Resources Inc. raised its holdings in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after purchasing an additional 603,159 shares during the period. Northern Trust Corp raised its holdings in shares of RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of RTX by 17.6% in the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% 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 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the company a "market perform" rating in a report on Friday, July 11th. Bank of America upped their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. DZ Bank raised shares of 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, Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average target price of $158.67.

RTX Price Performance

RTX stock traded down $0.62 during mid-day trading on Friday, reaching $156.95. The company had a trading volume of 2,813,237 shares, compared to its average volume of 5,386,222. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. 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 cap of $210.08 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.92 and a beta of 0.64. The business has a fifty day simple moving average of $145.20 and a 200 day simple moving average of $133.94.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. On average, equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 1.7%. RTX's dividend payout ratio is presently 59.78%.

RTX 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.